FROM: Acting Vice President & Corporate Secretary Minutes of Meeting of the Executive Directors of the Bank and IDA held in the Board Room on July 12, 2018 at 10:06 a.m. 1. There were present: CHAIR: K. Georgieva, WBG Chief Executive Officer, IBRD/IDA EXECUTIVE DIRECTORS, ALTERNATES, AND TEMPORARY ALTERNATES ACTING AS EXECUTIVE DIRECTORS: N. Alghaith A. Lushin J. Allford H. Mohammed E. Bethel P. Pagano A. Bvumbe M. Robinson O. Canuto A. Subramani F. Godts S. Tarar W. Gruber J-C. Tchatchouang A. Hadiyanto M. Torero M. Hasan H. de Villeroche F. Heemskerk J. Zattler C. Hogan M. Zhang F. Jimenez L. Klemola *S. Bouda K. Koguchi OFFICERS AND STAFF PARTICIPATING: S. Okoro, Senior Vice President & General Counsel Y. Tsikata, Vice President and Corporate Secretary A. Dixon, Vice President, HD Practice Group S. Devarajan, Senior Director M. Rutkowski, Senior Director J. Saavedra Chanduvi, Senior Director S. Djankov, Director F. Saliola, Lead Economist D. Gaye, Acting Vice President, Africa Region L. Cord, Country Director L. Msellati, Country Manager *K. Badio, Senior Investment Officer, IFC L. Gondim Harrington, Strategy Officer, IFC G. Verheyen, Underwriter, MIGA R. Pastor, Acting Senior Vice President & General Counsel K. Hemond, Acting General Counsel, IFC *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. World Development Report 2019 – The Changing Nature of Work 2. The Executive Directors discussed the World Development Report 2019 – The Changing Nature of Work (SecM2018-0224[IDA/SecM2018-0132, IFC/SecM-0089, MIGA/SecM-0080], dated July 6, 2018). Mauritania – Country Partnership Framework 3. The Executive Directors discussed the joint IDA/IFC/MIGA Country Partnership Framework for Mauritania for the period FY18-FY23 (IDA/R2018-0226[IFC/R2018-0220, MIGA/R2018-0086], dated June 19, 2018). Farewell to Alternate Executive Director 4. The Chair made the customary presentation to Mr. Eugene Miagkov, Alternate Executive Director, on expiration of his terms of service and tendered her good wishes for the future. The Executive Directors recorded their appreciation. Adjournment 3. The meeting adjourned at 3:10 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. The following item(s) have been approved on an Absence-of-Objection Basis or have been authorized to proceed on a streamlined basis between July 6 – 12, 2018 THE EXECUTIVE DIRECTORS OF THE BANK AND IDA World Bank Annual Report 2018 – Draft 1. The Executive Directors recorded their approval on July 6, 2018 of the draft report entitled “World Bank Annual Report 2018� (R2018-0170[IDA/R2018-0244], dated June 22, 2018). Benin – Grant – Community and Local Government Basic Social Services Project 2. The Executive Directors recorded their approval on July 6, 2018 of the grant in the amount of SDR 27.6 million (US$40 million equivalent) to Benin for the Community and Local Government Basic Social Services Project on the terms and conditions set out in the President’s Memorandum (IDA/R2018-0222, dated June 18, 2018). Burkina Faso – Grant – Health Services Reinforcement Project 3. The Executive Directors recorded their approval on July 6, 2018 of the grant in the amount of SDR 55.7 million (US$80 million equivalent) to Burkina Faso for the Health Services Reinforcement Project on the terms and conditions set out in the President’s Memorandum (IDA/R2018-0217, dated June 18, 2018). Chad – Grant – Domestic Resource Mobilization and Management Project 4. The Executive Directors recorded their approval on July 6, 2018 of the grant in the amount of SDR 24.4 million (US$35 million equivalent) to Chad for the Domestic Resource Mobilization and Management Project on the terms and conditions set out in the President’s Memorandum (IDA/R2018- 0215; /2, dated June 14, 2018 and June 21, 2018, respectively). Democratic Republic of Congo – Credit - Small and Medium Enterprises Development and Growth Project 5. The Executive Directors recorded their approval on July 6, 2018 of the credit in the amount of US$100 million to the Democratic Republic of Congo for the Small and Medium Enterprises Development and Growth Project on the terms and conditions set out in the President’s Memorandum (IDA/R2018-0205; /4, dated June 12, 2018 and June 25, 2018, respectively). Niger – Grant – Quality Data for Decision Making Project 6. The Executive Directors recorded their approval on July 6, 2018 of the grant in the amount of SDR 14 million (US$20 million equivalent) to Niger for the Quality Data for Decision Making Project on the terms and conditions set out in the President’s Memorandum (IDA/R2018-0220; /2, dated June 14, 2018 and June 21, 2018, respectively). 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. Western Africa – Grant – Solar Development in Sub-Saharan Africa Project – Phase 1 7. The Executive Directors recorded their approval on July 6, 2018 of the grant in the amount of SDR 14.7 million (US$21 million equivalent) to the West African Power Pool (WAPP) for the Solar Development in Sub-Saharan Africa Project – Phase 1 on the terms and conditions set out in the President’s Memorandum (IDA/R2018-0179; /2, dated June 14, 2018 and June 21, 2018, respectively). Guinea – Credit – Guinea Integrated Agricultural Development Project 8. The Executive Directors recorded their approval on July 9, 2018 of the credit in the amount of SDR 27.9 million (US$40 million equivalent) to Guinea for the Guinea Integrated Agricultural Development Project on the terms and conditions set out in the President’s Memorandum (IDA/R2018- 0223, dated June 19, 2018). Sierra Leone – Credit – Agro-Processing Competitiveness Project 9. The Executive Directors recorded their approval on July 9, 2018 of the credit in the amount of SDR 7.1 million (US$10 million equivalent) to Sierra Leone for the Agro-Processing Competitiveness Project on the terms and conditions set out in the President’s Memorandum (IDA/R2018-0229, dated June 19, 2018). Djibouti – Credit – Towards Zero Stunting in Djibouti Project 10. The Executive Directors recorded their approval on July 9, 2018 of the credit in the amount of SDR 10.5 million (US$15 million equivalent) to Djibouti for the Towards Zero Stunting in Djibouti Project on the terms and conditions set out in the President’s Memorandum (IDA/R2018-0191, dated June 19, 2018). Burkina Faso – Grant – Higher Education Support Project 11. The Executive Directors recorded their approval on July 10, 2018 of the grant in the amount of SDR 48.7 million (US$70 million equivalent) to Burkina Faso for the Higher Education Support Project on the terms and conditions set out in the President’s Memorandum (IDA/R2018-0231, dated June 20, 2018). Mauritania – Additional Grant and Restructuring – Public Sector Governance Project 12. The Executive Directors recorded their approval on July 12, 2018 of the additional grant and restructuring in the amount of SDR 10.1 million (US$14.5 million equivalent) to Mauritania for the Public Sector Governance Project on the terms and conditions set out in the President’s Memorandum (IDA/R2018-0224, dated June 22, 2018). ************************************************************************************ THE BOARD OF DIRECTORS OF IFC IFC Annual Report 2018 – Draft 13. The Board of Directors recorded their approval of the draft report entitled “IFC Annual Report 2018� (IFC/R2018-0223, dated June 22, 2018). 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. Africa Region – Proposed Finland-IFC Blended Finance for Climate Program Investment in Infra V-Gaia 14. The Board of Directors authorized on July 9, 2018 the recommendation contained in paragraph 3 of the President’s Memorandum entitled “Africa Region – Proposed Finland-IFC Blended Finance for Climate Program Investment in Infra V-Gaia� (IFC/R2018-0230, dated June 22, 2018) and adopted Resolution No. IFC 2018-0020. China – Proposed Additional Investment in China Education Group Holdings Limited for the China Edu II Project 15. The Board of Directors authorized on July 10, 2018 the recommendation contained in paragraph 3 of the President’s Memorandum entitled “China – Proposed Additional Investment in China Education Group Holdings Limited for the China Edu II Project� (IFC/R2018-0232; /1, dated June 25, 2018 and June 26, 2018, respectively) and adopted Resolution No. IFC 2018-0021. Mr. Bethel wished to be recorded as abstaining. *********************************************************************************** THE BOARD OF DIRECTORS OF MIGA MIGA Annual Report 2018 – Draft 16. The Board of Directors recorded their approval of the draft report entitled “MIGA Annual Report 2018� (MIGA/R2018-0094, dated June 22, 2018). *********************************************************************************** THE EXECUTIVE DIRECTORS OF THE BANK AND IDA, THE BOARD OF DIRECTORS OF IFC AND THE BOARD OF DIRECTORS OF MIGA Official Travel of Executive Directors, Alternate Executive Directors, Senior Advisors and Advisors to Executive Directors as of July 5, 2018 17. The Executive Directors recorded their approval on July 11, 2018 of the document entitled “Official Travel of Executive Directors, Alternate Executive Directors, Senior Advisors and Advisors to Executive Directors as of July 5, 2018� (R2018-0181[IDA/R2018-0253, IFC/R2018-0245, MIGA/R2018- 0104], dated July 10, 2018). 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.