FROM:        Vice President and Corporate Secretary
                                                                                                               67763
 

 
                               Minutes of Meeting of the Board of Directors of IFC,
                        held in the Board Room on Thursday, March 8, 2012, at 10:04 a.m.

 

 
    1.      There were present:
                                                                CHAIR:

                                              L. Thunell, Executive Vice President

  EXECUTIVE DIRECTORS AND ALTERNATES ACTING AS EXECUTIVE DIRECTORS:

  A.     Alkaffas (Alternate)                                   S.    Moongananiyil (Temporary Alternate)
  I.     Alturki (Alternate)                                    M.-L. Morin
  K.     Aminul Islam (Alternate)                               M. Mozayani (Temporary Alternate)
  S.     Bor (Temporary Alternate)                              K. Panov (Temporary Alternate)
  A.     Fayolle                                                D. Peters (Temporary Alternate)
  J.     Frieden                                                G. Politakis (Temporary Alternate)
  I.     Garayo Orbe (Temporary Alternate)                      N. Speer (Temporary Alternate)
  I.     Hoven                                                  H.A. Taha
  M.     Kivine (Temporary Alternate)                           Y. Takamura (Alternate)
  W.     Liu (Temporary Alternate)                              R.    Treffers
  H.     Manao                                                  N. Viggiolo (Temporary Alternate)
  A.     Mendes Dias                                            J.    Whitehead
  R.     Mokate

  ALTERNATES NOT ACTING AS EXECUTIVE DIRECTORS:

  D. Bohan                                                      M. Muhtar
  K. Dalrymple                                                  W. Rissmann
  M.S.Kayad                                                     W. Szczuka

                        
  OFFICERS AND STAFF PARTICIPATING:

    E.   Marmolo, Acting Corporate Secretary                    C.     Katsuya, CN1S4*
    R.   Robbins, Vice President and                            K.     Kelhofer, CSAR3
         General Counsel, CLVVP                                 K.     Lupberger, CNGIT
    K.   Finkelston, Vice President, CAPVP*                     M.     Morrison, CSLSY*
    V.   Gouarne, Director, CNGDR                               M.     Parasnis, CESI1*
    C.   Clemente, CN1S4                                        M.     Muleri, Corporate Secretariat
    E.   Crabtree, CNGIT

         *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-


  Bangladesh - Investment in Grameen Phone Limited

  2.      The Board of Directors considered the President's Memorandum and a Report on an investment in
  Grameen Phone Limited in Bangladesh (IFC/R2012-0040, dated February 24, 2012) and adopted the
  following resolution:

                                             RESOLUTION NO. IFC 2012-0017

            RESOLVED:

            (A)     THAT the Corporation be authorized to conclude the transactions outlined in
                    paragraph 7.02 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) Russian Federation - an investment in IXcellerate (IFC/R2012-0037, dated February 22, 2012) in
          the form of equity of up to US$15 million, an "A" loan of up to US$15 million, and a "B" loan of
          up to US$10 million, authorized on March 5, 2012.
 
      (b) Panama - an investment in Banco BBVA Panama S.A. (IFC/R2012-0038, dated February 22,
          2012) in the form of a five-year "A" loan of up to US$25 million, authorized on March 5, 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.