68545   FROM: Vice President and Corporate Secretary       Minutes of Meeting of the Executive Directors of the Bank and IDA, held in the Board Room on Thursday, April 12, 2012, at 11:50 a.m.     1. There were present:   CHAIR:   M. Mohieldin, Managing Director   EXECUTIVE DIRECTORS AND ALTERNATES ACTING AS EXECUTIVE DIRECTORS:   J. Abdul Ghaffar (Temporary Alternate) B. Han (Alternate) I. Alturki (Alternate) N. Hayashi   K. Aminul Islam (Alternate) I. Hoven V. Brandon (Temporary Alternate) K. Huber   A. Brandt S. James (Alternate) S. Chan (Temporary Alternate) M.S. Kayad (Alternate)   V. Daza Foronda (Alternate) H. Manao S. Dib (Alternate) E. Miagkov (Alternate)   E. Elfaki (Temporary Alternate) R. Mokate A. Fayolle M.-L. Morin   K. Florestal (Temporary Alternate) L. Soderini (Temporary Alternate) J. Frieden R. Treffers   M. Garcia   ALTERNATES NOT ACTING AS EXECUTIVE DIRECTORS:   K. Dalrymple W. Rissmann J. Haarlov W. Szczuka   M. Muhtar Y. Takamura S. Nanu A. Touret-Blondy     OFFICERS AND STAFF PARTICIPATING: E. Marmolo, Acting Corporate Secretary J.D. Lewis, Director, PRMED A. Toft, Deputy General Counsel, LEGVP H. Timmer, Director, DECPG J. Yifu Lin, Senior Vice President and A. Burns, DECPG Chief Economist, DECVP P. Moreno-Lopez, PRMED O. Canuto, Vice President and B. Geiser, Corporate Secretariat Head of Network, PRMVP 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-   Debt Reduction Facility for IDA-only Countries - Progress Update and Request for Extension   2. The Executive Directors considered the President's Memorandum and the report entitled "Debt Reduction Facility for IDA-only Countries - Progress Update and Request for Extension"   (IDA/R2012-0084, dated March 22, 2012) and approved the recommendation in paragraph 8 of the President's Memorandum, namely, to extend the DRF from July 31, 2012 to July 31, 2017 and to amend   paragraph 11 of the DRF Resolutions (Resolution No. 89-13 and Resolution No. IDA 89-4).   Oral Briefing - Global Economy   3. Management updated the Executive Directors on recent economic developments and global economic prospects for the remainder of 2012.   Oral Briefing on G20   4. Management briefed the Executive Directors on the status of the Bank's ongoing work ahead of   the G20 meeting of Finance Ministers and Central Bank Governors in Washington D.C. (April 19-20, 2012).   Nigeria - IDA Credit and Health Results Innovations Trust Fund (HRITF) Grant - State Health   Investment Project   5. The Executive Directors approved the IDA credit and the grant from the Health Results Innovations Trust Fund (HRITF) to Nigeria in the amounts of SDR 96.4 million (US$150 million   equivalent) and US$20 million, respectively, for a State Health Investment Project on the payment terms and other terms and conditions set out in the President’s Memorandum (IDA/R2012-0081, dated March   23, 2012).   Lebanon - Additional Financing Loan - Cultural Heritage and Urban Development Project   6. The Executive Directors approved the additional financing loan to Lebanon for a Cultural Heritage and Urban Development Project in the amount of US$27 million on the payment terms and other   terms and conditions set out in the President’s Memorandum (R2012-0066, dated March 23, 2012).   Chad - Public Financial Management Capacity Building Project - Proposal to Restructure   7. The Executive Directors recorded their approval on April 4, 2012 of the recommendation contained in paragraph 4 of the President's Memorandum entitled "Chad - Public Financial Management     Capacity Building Project - Proposal to Restructure" (IDA/R2012-0085, dated March 26, 2012). U.S. Government Accountability Office - Review of U.S. and International Financial Institutions’ Efforts to Strengthen Public Financial Management Systems 8. The Executive Directors recorded their approval on April 6, 2012 of the recommendation contained in paragraph 7 of the President's Memorandum entitled "U.S. Government Accountability Office - Review of U.S. and International Financial Institutions’ Efforts to Strengthen Public Financial Management Systems" (R2012-0068, dated March 28, 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.    -3-   Appointment of Development Committee Members   9. The Executive Directors recorded their approval on April 6, 2012 of the recommendation   contained in paragraph 9 of the President's Memorandum entitled "Appointment of Development Committee Members" (R2012-0065, dated March 23, 2012), namely, that the Executive Directors' Report   entitled Appointment of Members of the Development Committee - Amendment of Board of Governors Resolution No. 294 be transmitted to the Board of Governors for a vote without meeting and the   accompanying draft Resolution by adopted by the Governors.   Tanzania - Performance Results and Accountability Project - Proposal to Restructure   10. The Executive Directors recorded their approval on April 9, 2012 of the recommendation contained in paragraph 4 of the President's Memorandum entitled "Tanzania - Performance Results and   Accountability Project - Proposal to Restructure" (IDA/R2012-0087, dated March 29, 2012).   Adjournment   11. The meeting recessed at 1:10 p.m., reconvened at 2:39 p.m., and adjourned at 2:54 p.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.