70709   FROM: Vice President and Corporate Secretary     Minutes of Meeting of the Board of Directors of IFC,   held in the Board Room on Thursday, May 31, 2012, at 10:05 a.m.     1. There were present:   CHAIR:   R.-R. Kaldany, Vice President, CGIVP   EXECUTIVE DIRECTORS AND ALTERNATES ACTING AS EXECUTIVE DIRECTORS:   A. Alkaffas (Alternate) K. Morais (Temporary Alternate) I. Alturki (Alternate) M.-L.Morin   K. Aminul Islam (Alternate) M. Ostos (Temporary Alternate) A. Barclay (Temporary Alternate) K. Panov (Temporary Alternate)   D. Bohan (Alternate) W. Rissmann (Alternate) A. Brandt I. Solomon   J.J. Bravo (Alternate) W. Szczuka (Alternate) V. Dhanpaul (Alternate) A. Touret-Blondy (Alternate)   M. Ehui (Temporary Alternate) R. Treffers K. Huber E. Wakamatsu (Temporary Alternate)   S. James (Alternate) J. Whitehead A. Lamrani (Temporary Alternate) F. Zang (Temporary Alternate)   L. Laraia (Temporary Alternate)   OFFICERS AND STAFF PARTICIPATING:   E. Marmolo, Acting Corporate Secretary S. Swann, CDFIN D. Harris, Chief Counsel, CLEAA R. Warugongo, CN2S6*   B. Sheahan, Director, CN2DR   D. Younger, CNGPW J. Fergusson, CNGPW R. Krech, Corporate Secretariat S. Karimjee, CAFE4* *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-   South Africa - Investment in Abengoa Concentrated Solar Power (CSP)   2. The Board of Directors considered the President's Memorandum and a Report on an investment in Abengoa Concentrated Solar Power (CSP) in South Africa (IFC/R2012-0162, dated May 17, 2012) and   adopted the following resolution:   RESOLUTION NO. IFC 2012-0039   RESOLVED:   (A) THAT the Corporation be authorized to conclude the transactions outlined in paragraphs 7.1, 7.2, 7.3 and 7.4 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) Eastern Africa Region - an investment in Alios Finance (IFC/R2012-0152, dated May 11, 2012) in the form of a senior loan of up to US$4 million to Alios Finance Tanzania and a senior loan of   up to US$5 million to Alios Finance Kenya, authorized on May 23, 2012.   (b) Brazil - an investment in Latapack-Ball Embalagens Limitada (IFC/R2012-0155, dated May 11, 2012) in the form of an "A" loan of up to US$16.1 million and a "B" loan of up to US$24.1   million, authorized on May 23, 2012 under the expedited streamlined procedure pilot.   (c) Latin America Region - an investment in Latin Renewables Infrastructure Fund, LP (IFC/R2012-0156, dated May 15, 2012) in the form of equity of up to US$15 million, authorized   on May 25, 2012.   (d) China - an investment in SinoGreen Fund, LP (IFC/R2012-0157, dated May 15, 2012) in the form of equity of up to US$20 million, authorized on May 25, 2012. Mr. Solomon (via email     dated May 25, 2012) wished to be recorded as abstaining. (e) Russian Federation - an investment in Primorsky (IFC/R2012-0158, dated May 15, 2012) in the form of equity of up to US$12 million, authorized on May 25, 2012. (f) South African Region - an investment in Business Partners International Southern Africa SME Fund (IFC/R2012-0159, dated May 15, 2012) in the form of equity of up to US$8 million, authorized on May 25, 2012. (g) Serbia - an investment in Vino Zupa AD (IFC/R2012-0160, dated May 15, 2012) in the form of an "A" loan of up to EUR 12.5 million (US$16.17 million equivalent), authorized on May 25, 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-   Minutes of Previous Meeting   4. The Board of Directors recorded its approval on May 25, 2012 of the Minutes of the meeting held   on May 3, 2012 (IFC/M2012-0032).   Adjournment   5. The meeting adjourned at 10:49 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.