67405
  FROM:        Vice President and Corporate Secretary

 

 
                               Minutes of Meeting of the Board of Directors of IFC,
                      held in the Board Room on Thursday, February 2, 2012, at 10:04 a.m.

 

 
    1.      There were present:
                                                                CHAIR:

                                             R.-R. Kaldany, Vice President, CGIVP

  EXECUTIVE DIRECTORS AND ALTERNATES ACTING AS EXECUTIVE DIRECTORS:

  A.      Alkaffas (Alternate)                                  W.      Liu (Temporary Alternate)
  I.      Alturki (Alternate)                                   I.      MacDonald (Temporary Alternate)
  K.      Aminul Islam (Alternate)                              S.      Moorehead
  J.      Baeten (Temporary Alternate)                          M.      Muhtar (Alternate)
  D.      Bohan (Alternate)                                     K.      Panov (Temporary Alternate)
  J.J.    Bravo (Alternate)                                     G.      Politakis (Temporary Alternate)
  I.-K.   Cho (Alternate)                                       W.      Rissmann (Alternate)
  V.      Dhanpaul (Alternate)                                  I.      Solomon
  S.      Dib (Alternate)                                       W.      Szczuka (Alternate)
  G.      Ferrari (Temporary Alternate)                         H.A.    Taha
  J.      Haarlov (Alternate)                                   Y.      Takamura (Alternate)
  K.      Huber                                                 A.      Touret-Blondy (Alternate)
  M.S.    Kayad (Alternate)

  ALTERNATE NOT ACTING AS EXECUTIVE DIRECTOR:

  D.      Kalyalya

                        
  OFFICERS AND STAFF PARTICIPATING:

    A.    Peuker, Acting Corporate Secretary                    A.K. Sharma, CFGME
    G.    Jessee, Chief Counsel, CLEFG                          S.G. Singh, CSASC
    J.    Scriven, Director, CFGDR                              R.   Krech, Corporate Secretariat
    H.    Mahalingam, CSAR4*

          *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-


 
    India - Investment in India Mortgage Guarantee Company Limited
 
  2.     The Board of Directors considered the President's Memorandum and a Report on an investment in
  India Mortgage Guarantee Company Limited in India (IFC/R2012-0017, dated January 26, 2012) and
  adopted the following resolution:
 
                                    RESOLUTION NO. IFC 2012-0012
 
         RESOLVED:
 
         (A) THAT the Corporation be authorized to conclude the transactions outlined in
                paragraph 7.1 of the Report substantially on the terms therein set forth; and

            (B)     THAT the President, Executive Vice President, a Vice President, a Department
                    Director, the General Counsel or a Deputy General Counsel, or any staff member
                    of the Corporation authorized by any one of them, enter in the name and on behalf
                    of the Corporation, into an agreement or agreements providing for such
                    transactions and containing such other terms and conditions as he or she, by the
                    execution thereof, shall approve.
 
  3.     The Board of Directors recorded its authorization for Management to proceed with the following
  investments under the Streamlined Procedure:

       (a) FYR Macedonia - an investment in EVN Macedonia (IFC/R2012-0009, dated January 17, 2012)
           in the form of an "A" loan of up to EUR 7 million (US$9.1 million equivalent), authorized on
           January 27, 2012.

       (b) Jamaica - Investment in Jamaica National Small Business Loan Limited (IFC/R2012-0010; /1-2,
           dated January 18, January 23, and January 24, 2012, respectively) in the form of a senior loan of
           up to JMD 211.9 million (US$2.5 million equivalent), authorized on January 30, 2012.

       (c) Europe and Central Asia Region - an investment in Turkiye Sinai Kalkinma Bankasi A.S.
           (TSKB) (IFC/R2012-0011, dated January 18, 2012) in the form of a senior loan of up to US$75
           million, authorized on January 30, 2012.

  Adjournment

  4.        The meeting adjourned  at 10:47 a.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.