69552       FROM: Vice President and Corporate Secretary     Minutes of Meeting of the Board of Directors of MIGA,   held in the Board Room on Thursday, April 26, 2012, at 12:02 p.m.     1. There were present: CHAIR:   I. Kobayashi, Executive Vice President   EXECUTIVE DIRECTORS AND ALTERNATES ACTING AS EXECUTIVE DIRECTORS:   I. Alturki (Alternate) N. Mota Pinto (Alternate)   G. Alzetta T. Nishino (Temporary Alternate) C. Asike (Temporary Alternate) K. Panov (Temporary Alternate)   M. Ayesu (Temporary Alternate) M. Pant (Temporary Alternate) D. Bohan (Alternate) W. Rissmann (Alternate)   M. Coronel (Temporary Alternate) W. Szczuka (Alternate) A. Fernandez (Temporary Alternate) H.A. Taha   K. Florestal (Temporary Alternate) A. Touret-Blondy (Alternate) S. James (Alternate) R. Treffers   M.S. Kayad (Alternate) A. Ubelis (Temporary Alternate) S. Lutfi (Temporary Alternate) J. Whitehead   R. Mokate F. Zang (Temporary Alternate) M.-L. Morin   ALTERNATES NOT ACTING AS EXECUTIVE DIRECTORS:   I.-K. Cho K. Huber     OFFICERS AND STAFF PARTICIPATING: E. Marmolo, Acting Corporate Secretary L. Bedoucha, MIGEA* A.-M.Betancourt, General Counsel, MIGLC C. Millward, MIGOP M. Wormser, Vice President and K. Sharkey, AFCCI Chief Operating Officer, MIGA M.A. Walsh, MIGOP E. Quintrell, Director, MIGOP R. Krech, Corporate Secretariat *Via Videoconference 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-   Côte d'Ivoire - Guarantees to Bouygues S.A. (and/or Subsidiaries), Pan African Infrastructure   Development Fund, BMCE Bank International Plc., Africa Finance Corporation, and Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. for Investments in SOCOPRIM S.A.   2. The Board of Directors considered the Report from the President on guarantees to Bouygues S.A.   (and/or any of its subsidiaries), Pan African Infrastructure Development Fund, BMCE Bank International Plc., Africa Finance Corporation, and Nederlandse Financierings-Maatschappij voor   Ontwikkelingslanden N.V. for their investments in SOCOPRIM S.A. in Côte d'Ivoire (MIGA/R2012-0018, dated April 13, 2012) and concurred in the issuance of the guarantees on the terms   and conditions set out in the President’s Report. Mr. Solomon wished to be recorded as abstaining.   Minutes of Previous Meeting   3. The Board of Directors recorded its approval on March 30, 2012 of the Minutes of the meeting held on February 28, 2012 (MIGA/M2012-0007).   Botswana - Guarantee for Equity Investment by ADC Financial Services and Corporate   Development GBL1 in ABC Holdings Limited   4. The Board of Directors recorded its authorization on March 12, 2012 for the President to proceed with issuance of the guarantee as set out in the Report from the President entitled "Botswana - Guarantee   for an Equity Investment by ADC Financial Services and Corporate Development GBL1 in ABC Holdings Limited" (MIGA/R2012-0007, dated February 29, 2012).   Human Resources Committee - 2011 Annual Report to the Board of Executive Directors   5. The Board of Directors recorded its approval on March15, 2012 to publicly disclose the 2011   Annual Report of the Human Resources Committee (MIGA/R2012-0008, dated March 2, 2012).   Audit Committee - 2011 Annual Report to the Board of Executive Directors   6. The Board of Directors recorded its approval on March 19, 2012 to publicly disclose the 2011 Annual Report of the Audit Committee (MIGA/R2012-0011, dated March 8, 2012).   Budget Committee - 2011 Annual Report to the Board of Executive Directors   7. The Board of Directors recorded its approval on March 20, 2012 to publicly disclose the 2011     Annual Report of the Budget Committee (MIGA/R2012-0012, dated March 9, 2012). Committee on Development Effectiveness - 2011 Annual Report to the Board of Executive Directors 8. The Board of Directors recorded its approval on March 20, 2012 to publicly disclose the 2011 Annual Report of the Committee on Development Effectiveness (MIGA/R2012-0013, dated March 9, 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-   Botswana - Agreement on Legal Protection for Guaranteed Foreign Investments   9. The Board of Directors recorded its approval on March 20, 2012 of the recommendation   contained in the President's Memorandum entitled "Republic of Botswana - Agreement on Legal Protection for Guaranteed Foreign Investments" (MIGA/R2012-0010, dated March 8, 2012).   South Africa - Guarantee for Equity Investment in HBZ Bank   10. The Board of Directors recorded its authorization on March 28, 2012 for the President to proceed   with issuance of the guarantee as set out in the Report from the President entitled "South Africa - Guarantee for an Equity Investment in HBZ Bank" (MIGA/R2012-0014, dated March 16, 2012).   Adjournment   11. The meeting adjourned at 12:26 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.