75348    FROM: Vice President and Corporate Secretary   Minutes of Meeting of the Board of Directors of IFC,  held in the Board Room on Tuesday, December 4, 2012, at 10:02 a.m.   1. There were present:  CHAIR:  S.Stoiljkovic, Vice President, CBAVP  EXECUTIVE DIRECTORS AND ALTERNATES ACTING AS EXECUTIVE DIRECTORS:  A. Alkaffas (Alternate) S. James (Alternate) M. Al-Sheikh D. Kalyalya  G. Alzetta M.S. Kayad (Alternate) S. Annamalai S. Mirjalili (Temporary Alternate)  G. Balcytyte (Alternate) M.-L. Morin J.J. Bravo M. Muhtar  I.-K. Cho (Alternate) K. Panov (Temporary Alternate) P. Cipollone M.N. Prasad  A. Fayolle I. Solomon C.G. Forcieri R. Tan  J. Frieden R. Treffers I. Hoven F. Zhang (Temporary Alternate)  E. Inaka (Temporary Alternate)  ALTERNATES NOT ACTING AS EXECUTIVE DIRECTORS:  S. Aviel  W. Rissmann P. Larose W. Szczuka M.S. Pamuksuz M. Tareque R. Raineri 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 C. Colbert, CAFW1* Corporate Secretary, SECVP G. Cufre, CN2TM  D. Harris, Acting General Counsel, CLVVP F. Douamba, CAFSC* K. Finkelston, Vice President, CAPVP* A. Millan Drews, CN2TM  A. Mehta, Director, CMGDR C. Mueller, CM2M6 V. Prakash, Director, CM1DR F. Pei, CM1A1  B. Sheahan, Director, CN2DR G. Rohmer, CN2TM S. Atkeson, CM1P4 M. Travaly, CM2M6  M. Butler, CRVIA T. Duson, Corporate Secretariat  *Via Videoconference  China - Investment in China Flooring Holding Company Limited  2. The Board of Directors considered the President's Memorandum and a Report on an investment in China Flooring Holding Company Limited in China (IFC/R2012-0356, dated November 14, 2012) and  adopted the following resolution:  RESOLUTION NO. IFC 2012-0074  RESOLVED:  (A) THAT the Corporation be authorized to conclude the transactions outlined in paragraph 7.2 of the Report substantially on the terms therein set forth; and  (B) THAT the President, the Executive Vice President, a Vice President, the Vice  President and General Counsel, the Deputy General Counsel, a Department Director, or any staff member of the Corporation authorized by any one of them,  enter in the name and on behalf of the Corporation, into an agreement or agreements providing for such transactions and containing such other terms and  conditions as he or she, by the execution thereof, shall approve.  Mr. Solomon wished to be recorded as abstaining.  Cote d'Ivoire - Investment in Compagnie Hoteliere de la Lagune S.A.  3. The Board of Directors  considered the President's Memorandum and a Report on an investment in Compagnie Hoteliere de la Lagune S.A. in Cote d'Ivoire (IFC/R2012-0351/3, dated November 7 and November 30, 2012, respectively) and adopted the following resolution: 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-  RESOLUTION NO. IFC 2012-0075  RESOLVED:  (A) THAT the Corporation be authorized to conclude the transactions outlined in  paragraphs 7.1 and 7.2 of the Report substantially on the terms therein set forth; and  (B) THAT the President, the Executive Vice President, a Vice President, the Vice  President and General Counsel, the Deputy General Counsel, a Department Director, or any staff member of the Corporation authorized by any one of them,  enter in the name and on behalf of the Corporation, into an agreement or agreements providing for such transactions and containing such other terms and  conditions as he or she, by the execution thereof, shall approve.  Mr. Alzetta wished to be recorded as abstaining.  Dominican Republic - Investment in Indomina Group  4. The Board of Directors considered the President's Memorandum and a Report on an investment in Indomina Group in the Dominican Republic ((IFC/R2012-0360, dated November 14, 2012) and adopted  the following resolution:  RESOLUTION NO. IFC 2012-0076  RESOLVED:  (A) THAT the Corporation be authorized to conclude the transactions outlined in paragraphs 7.1 and 7.2 of the Report substantially on the terms therein set forth;  and  (B)THAT the President, the Executive Vice President, a Vice President, the Vice President and General Counsel, the Deputy General Counsel, a Department  Director, or any staff member of the Corporation authorized by any one of them, enter in the name and on behalf of the Corporation, into an agreement or  agreements providing for such transactions and containing such other terms and conditions as he or she, by the execution thereof, shall approve.   5. The Board of Directors recorded its authorization for Management to proceed with the following investments under the Streamlined Procedure: (a) Guatemala - an investment in Banco G&T Continental, S.A. (IFC/R2012-0353; /1, dated November 12 and November 15, 2012, respectively), in the form of a Tier 2 subordinated loan of up to US$13 million through IFC's Capitalization (Subordinated Debt) Fund L.P., authorized on November 26, 2012. 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.  -4-  (b) China - an investment in Tianneng Power International Limited (IFC/R2012-0365, dated  November 13, 2012) in the form of an "A" loan of up to RMB 190 million (US$30 million equivalent) and an equity investment of up to US$6 million, authorized on November 27, 2012.  Mr. Solomon (via email dated November 26, 2012) wished to be recorded as abstaining.  (c) Russian Federation - an investment in KKS Group (IFC/R2012-0361, dated November 14, 2012) in the form of a combination of common equity, an IFC income participating subordinated "C"  loan, and an IFC senior "A" loan, for a total aggregate of up to RUB 810 million (US$25.8 million equivalent), authorized on November 28, 2012.  Adjournment  6. The meeting adjourned at 11:47 a.m.               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.