71873     FROM: Vice President and Corporate Secretary       Minutes of Meeting of the Executive Directors of the Bank and IDA, held in the Board Room on Tuesday, June 19, 2012, at 10:05 a.m.       1. There were present:   CHAIR:   S.M. Indrawati, Managing Director   EXECUTIVE DIRECTORS AND ALTERNATES ACTING AS EXECUTIVE DIRECTORS:   A. Alkaffas (Alternate) K. Huber I. Alturki (Alternate) B. Lvin (Temporary Alternate)   A. Ambroise (Temporary Alternate) A. Mendes Dias S. Aviel (Alternate) S. Moorehead   D. Bohan (Alternate) M. Muhtar (Alternate) A. Brandt M.N. Prasad   F.A. Camarasa H.A. Taha P. Cipollone J. Talat   M. Coronel (Temporary Alternate) A. Touret-Blondy (Alternate) V. Dhanpaul (Alternate) R. Treffers   J. Frieden J. Whitehead N. Hayashi S. Yang   I. Hoven   ALTERNATES NOT ACTING AS EXECUTIVE DIRECTORS:   G. Alzetta   M.S.Kayad K. Aminul Islam W. Rissmann B. Han W. Szczuka D. Kalyalya This document has a restricted distribution and may be used by recipients only in the performance of their official duties. Its contents may not otherwise be disclosed without World Bank Group authorization.    -2-   OFFICERS AND STAFF PARTICIPATING:   J. Familiar, Vice President and R.K. Peters, Director, ECAVP Corporate Secretary A. Bjerde, AFTSN   A.-M.Leroy, Senior Vice President and X. Devictor, ECCPL* Group General Counsel, LEGVP E. Fernstrom, AFTEG   M. Diop, Vice President, AFRVP E. Iklaga, AFCW2* C McDonough, Acting Bank Group Chief S. Kahkonen, ECSP2   Financial Officer, CTRVP E. Korczyc, ECSP2* S. McGrath, Vice President, HRSVP L. Monari, AFTEG   R.V. Pulley, Vice President, CFRVP E. Skrok, ECSP2 J. Von Amsberg, Vice President, OPCVP G. Vincelette, ECSP2   P. Harrold, Director, ECCU5* J. Kozack, IMF M.-F. Marie-Nelly, Director, AFCW2* B. Geiser, Corporate Secretariat   G. Miles, Director, CFRPA   *Via Videoconference   The World Bank's Budget: Trends and Recommendations for FY13   2. The Executive Directors considered the President’s Memorandum and Report entitled "The World Bank's Budget: Trends and Recommendations for FY13"   (R2012-0125[IDA/R2012-0154], dated May 31, 2012) and approved the recommendations contained in the President’s Memorandum and detailed in Chapter 1 of the Report, primarily, a net administrative   budget for FY13 of US$1,870.8 million.   Poland - Development Policy Lending (Loan) - First Public Finance Development Policy Operation   3. The Executive Directors considered the President’s Memorandum and Recommendation (R2012-0118, dated May 25, 2012) and approved the First Public Finance Development Policy Loan to   Poland in the amount of EUR 750 million (US$991.4 million equivalent) on the payment terms and other terms and conditions set out in the President’s Memorandum.   Nigeria - Additional Financing Credit, Additional Series of IDA Partial Risk Guarantees, and   Proposal to Restructure - Nigeria Electricity and Gas Improvement Project   4. The Executive Directors considered the President’s Memorandum and Recommendation (IDA/R2012-0148, dated May 30, 2012) and approved the additional financing credit to Nigeria in the     amount of SDR 64.5 million (US$100 million equivalent) and the proposal to restructure the Nigeria Electricity and Gas Improvement Project on the payment terms and other terms and conditions set out in the President’s Memorandum; and the Executive Directors approved the guarantee operation to Nigeria in support of the Project for an additional series of IDA Partial Risk Guarantees to Nigeria in the aggregate amount of US$200 million for Gas Supply and Aggregation Agreements between the Niger Delta Power Holding Company and international and domestic private oil companies, acting as operators of unincorporated joint ventures with the Nigerian National Petroleum Corporation (NNPC) on the payment terms and other terms and conditions set out in the President’s Memorandum. In addition, the Directors approved a waiver under OP 14.25 applicable to the additional series of IDA Partial Risk Guarantees. This document has a restricted distribution and may be used by recipients only in the performance of their official duties. Its contents may not otherwise be disclosed without World Bank Group authorization.    -3-   Guinea - Grant - Productive Social Safety Net Project   5. The Executive Directors approved the grant to Guinea for a Productive Social Safety Net Project in the amount of SDR 16.2 million (US$25 million equivalent) on the terms and conditions set out in the   President’s Memorandum (IDA/R2012-0149, dated May 30, 2012).   Nigeria - Additional Financing Credit - Second National Urban Water Sector Reform Project   6. The Executive Directors approved the additional financing credit to Nigeria for a Second National Urban Water Sector Reform Project in the amount of SDR 77.5 million (US$120 million   equivalent) on the payment terms and other terms and conditions set out in the President’s Memorandum (IDA/R2012-0145, dated May 30, 2012).   Minutes of Previous Meeting   7. The Executive Directors recorded their approval on June 13, 2012 of the Minutes of the meeting   held on June 5, 2012 (M2012-0045[IDA/M2012-0045]).   Date of Next Meeting   8. It was agreed to hold a meeting of the Executive Directors of the Bank and IDA on Tuesday, June 26, 2012. However, it was noted that a meeting of the Board of Directors of IFC would take place on   Thursday, June 21, 2012.   Adjournment   9. The meeting adjourned at 12 noon.               This document has a restricted distribution and may be used by recipients only in the performance of their official duties. Its contents may not otherwise be disclosed without World Bank Group authorization.