International Finance Corporation (IFC) Board of Governors resolution ; no. 264 : financial statements, accountants’ report, administrative budget and designations of retained earnings (English)

On October 13, 2017, International Finance Corporation (IFC) Board of Governors adopted resolution number two hundred and sixty four. It was resolved that the Board of Governors of the Corporation consider the Consolidated Financial Statements and Independent...  See More + On October 13, 2017, International Finance Corporation (IFC) Board of Governors adopted resolution number two hundred and sixty four. It was resolved that the Board of Governors of the Corporation consider the Consolidated Financial Statements and Independent Auditors’ Report included in the 2017 Annual Report and the Administrative Budget contained in the Report to the Board of Governors on IFC FY18 Budget: Implementing IFC 3.0 (the Report), as fulfilling the requirements of Article IV, Section 11, of the Articles of Agreement and of Section 16 of the By-Laws of the Corporation. It was also resolved that the Corporation’s designation of 80 million US dollars of retained earnings for grants to the International Development Association for use by the Association in the form of grants in furtherance of the Corporation’s purposes in IFC’s Fiscal Year 2018 financial statements is hereby noted with approval.  See Less -