70627   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, May 31, 2012, at 10:51 a.m.       1. There were present: CHAIR:   S.M. Indrawati, Managing Director   EXECUTIVE DIRECTORS AND ALTERNATES ACTING AS EXECUTIVE DIRECTORS:   A. Ahmed (Temporary Alternate) K. Huber   A. Alkaffas (Alternate) S. James (Alternate) I. Alturki (Alternate) L. Laraia (Temporary Alternate)   K. Aminul Islam (Alternate) M.-L. Morin A. Barclay (Temporary Alternate) T. Nishino (Temporary Alternate)   D. Bohan (Alternate) I. Solomon A. Brandt W. Szczuka (Alternate)   V. Daza Foronda (Alternate) V. Tamozhnikov (Temporary Alternate) V. Dhanpaul (Alternate) A. Touret-Blondy (Alternate)   S. Dib (Alternate) R. Treffers M. Ehui (Temporary Alternate) J. Whitehead   I. Garayo Orbe (Temporary Alternate) F. Zang (Temporary Alternate) I. Hoven   ALTERNATE NOT ACTING AS EXECUTIVE DIRECTOR:   K. Dalrymple   OFFICERS AND STAFF PARTICIPATING:     E. Marmolo, Acting Corporate Secretary A. Dumitrescu, AFTTR H. Abushakra, Chief Counsel, LEGES F. Missfeldt-Ringius, MNSSD Y. Crookes, Director, AFCW1* L. Monari, AFTEG L. Frigente, Director, AFRVP M. Pigato, AFTP4 V. Songwe, Director, AFCF1 S. Teravaninthorn, AFTTR A. Bjerde, AFTSN P. Egoume Bossogo, IMF C. Cavalcanti, AFTP4 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-   The Gambia - Poverty Reduction Strategy Paper and Joint IDA-IMF Staff Advisory Note   2. The Executive Directors discussed the Poverty Reduction Strategy Paper entitled "Programme for   Accelerated Growth and Employment (PAGE)" for The Gambia for the period 2012-2015 and a Joint IDA-IMF Staff Advisory Note on the PAGE (IDA/SecM2012-0150, dated May 8, 2012). (The Chair’s   Summing Up was subsequently distributed as IDA/SU2012-0019, dated June 1, 2012.)   The Gambia - Development Policy Lending (Grant) - First Economic Governance and Reform Operation (EGRG-1)   3. The Executive Directors considered the President's Memorandum and Recommendation   (IDA/R2012-0131, May 8, 2012) and approved the First Economic Governance and Reform Development Policy Grant (EGRG-1) to The Gambia in the amount of SDR 3.9 million (US$6 million   equivalent) on the terms and conditions set out in the President’s Memorandum.   Liberia - Adaptable Program Lending (Credit) - West African Power Pool (WAPP) Cote d'Ivoire, Liberia, Sierra Leone, and Guinea (CLSG) Power Interconnection Project (APL4, Phase 1), and   Grant to the West African Power Pool (WAPP) Organization - WAPP Integration and Technical Assistance Project   4. The Executive Directors considered the President's Memorandum and Recommendation   (IDA/R2012-0134, dated May 10, 2012) and approved (1) the credit to Liberia in the amount of SDR 93.3 million (US$144.5 million equivalent) for a West African Power Pool (WAPP) Cote d'Ivoire,   Liberia, Sierra Leone, and Guinea (CLSG) Power Interconnection Project, and (2) a grant to the West African Power Pool (WAPP) Organization for an Integration and Technical Assistance Project in the   amount of SDR 20.4 million (US$31.5 million equivalent) on the payment terms and other terms and conditions set out in the President’s Memorandum. The both vertical and horizontal adaptable program   lending supports the first phase of a multi-phased APL4 Power System Re-Development Sub-Program of the West Africa Power Pool (WAPP) Program. The Directors also approved a waiver to the project on the   application of paragraph 4 of OP 4.01.   Cote d'Ivoire - Adaptable Program Lending (Grant) - Abidjan-Lagos Trade and Transport Facilitation Project (ALTTFP) (APL2)   5. The Executive Directors considered the President's Memorandum and Recommendation   (IDA/R2012-0130, dated May 10, 2012) and approved the grant to Cote d'Ivoire for an Abidjan-Lagos Trade and Transport Facilitation Project (ALTTFP) in the amount of SDR 57.9 million (US$90     million equivalent) on the terms and conditions set out in the President’s Memorandum. The adaptable program lending supports the second phase of the Abidjan-Lagos Trade and Transport Facilitation Program (APL2). Ethiopia - Additional Financing Credit - Urban Water Supply and Sanitation Project 6. The Executive Directors approved the additional financing credit to Ethiopia for an Urban Water Supply and Sanitation Project in the amount of SDR 96.9 million (US$150 million equivalent) on the payment terms and other terms and conditions set out in the President’s Memorandum (IDA/R2012-0133, dated May 10, 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-   Guinea - Additional Financing Grant and Proposal to Restructure - Electricity Sector Efficiency   Improvement Project   7. The Executive Directors approved the proposal to restructure and the additional financing grant to Guinea for an Electricity Sector Efficiency Improvement Project in the amount of SDR 11.9 million   (US$18.3 million equivalent) on the terms and conditions set out in the President’s Memorandum (IDA/R2012-0129, dated May 10, 2012).   Sierra Leone - Credit - Pay and Performance Project   8. The Executive Directors approved the credit to Sierra Leone for a Pay and Performance Project in   the amount of SDR 11 million (US$17 million equivalent) on the payment terms and other terms and conditions set out in the President’s Memorandum (IDA/R2012-0136, dated May 10, 2012).   China - Loan - Gansu Qingyang Urban Infrastructure Improvement Project   9. The Executive Directors approved the loan to China for a Gansu Qingyang Urban Infrastructure   Improvement Project in the amount of US$100 million on the payment terms and other terms and conditions set out in the President’s Memorandum (R2012-0105, dated May 10, 2012). Mr. Solomon (via   email dated May 30, 2012) wished to be recorded as abstaining.   India - Additional Financing Credit - Bihar Rural Livelihoods Project   10. The Executive Directors approved the additional financing credit to India for a Bihar Rural Livelihoods Project in the amount of SDR 64.6 million (US$100 million equivalent) on the payment   terms and other terms and conditions set out in the President’s Memorandum (IDA/R2012-0128, dated May 10, 2012).   Date of Next Meeting   11. It was agreed to hold a meeting of the Executive Directors of the Bank and IDA on Tuesday, June   5, 2012.   Adjournment   12. The meeting adjourned at 12:43 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.