FROM: Vice President & Corporate Secretary Minutes of Meeting of the Executive Directors of the Bank and IDA held in the Board Room on November 22, 2016 at 10:02 a.m. 1. There were present: CHAIR: J.Y. Kim, President EXECUTIVE DIRECTORS, ALTERNATES, AND TEMPORARY ALTERNATES ACTING AS EXECUTIVE DIRECTORS: K. Alkhudairy H. Kim S. Bouda D. Kinder O. Bougara K. Koguchi A. Bvumbe B. Kunene H. de Villeroche M. McGuire S. Garg E. Miagkov F. Godts U. Mueller M. Gruber P. Pagano A. Hadiyanto D. Quintero Cuello M. Hasan M. Torero F. Heemskerk S. Ulbaek C. Hogan Y. Yang F. Jimenez OFFICERS AND STAFF PARTICIPATING: K. Peters, Senior Vice President, Operations A-M. Leroy, Senior Vice President and General Counsel Y. Tsikata, Vice President and Corporate Secretary L. Tuck, Vice President, SD Practice Group M. Diop, Vice President, Africa Region G. Castro, Chairperson, Inspection Panel Z. Elbakri, Member, Inspection Panel J. Mattsson, Member, Inspection Panel 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. Inspection Panel – Uganda – Transport Sector Development Project – Additional Financing Investigation Report and Management Report and Recommendation in Response to the Inspection Panel’s Investigation Report 2. Executive Directors considered the reports entitled "Inspection Panel Investigation Report - Uganda: Transport Sector Development Project" (INSP/R2016-0004; /1, dated August 5, 2015 and August 11, 2016, respectively) and "Management Report and Recommendation in Response to the Inspection Panel’s Investigation Report on the Uganda – Transport Sector Development Project" (IDA/R2016-0242; /1-4, dated October 13, 2016, October 24, 2016, November 1, 2016, November 22, 2016 and November 23, 2016, respectively) and approved Management’s actions set out in Section VI of the report. Adjournment 3. The meeting adjourned 12:44 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 November 18, 2016 and November 22, 2016 THE EXECUTIVE DIRECTORS OF THE BANK AND IDA Solomon Islands – Additional Financing – Rapid Employment Project 1. The Executive Directors recorded their approval on November 18, 2016 of the additional grant in the amount of SDR 1.4 million (US$1.9 million equivalent) to Solomon Islands for the Rapid Employment Project on the terms and conditions set out in the President’s Memorandum (IDA/R2016-0263, dated November 9, 2016). Belarus – Loan – Health System Modernization Project 2. The Executive Directors recorded their approval on November 18, 2016 of the loan in the amount of US$125 million to Belarus for the Health System Modernization Project on the terms and conditions set out in the President’s Memorandum (R2016-0210, dated November 1, 2016). Mr. McGuire wished to record his abstention. Argentina – Loan – Access to Longer Term Finance for Micro, Small and Medium Enterprises Project 3. The Executive Directors recorded their approval on November 18, 2016 of the loan in the amount of US$50 million to Argentina for the Access to Longer Term Finance for Micro, Small and Medium Enterprises Project on the terms and conditions set out in the President’s Memorandum (R2016-0211, dated November 1, 2016). Change in Rules of Procedure for Chairmanship of Meetings of the Bank and Association 4. The Executive Directors recorded their approval on November 22, 2016 of the recommendation contained in paragraph 2 of the document entitled “Change in Rules of Procedure for Chairmanship of Meetings of the Bank and Association� (R2016- 0225[IDA/R2016-0271], dated November 10, 2016]) Madagascar – Development Policy Grant – Public Finance Sustainability and Investment Development Policy Financing Operation 5. The Executive Directors recorded their approval on November 22, 2016 of the development policy grant in the amount of SDR 46.6 million (US$65 million equivalent) to Madagascar for the Public Finance Sustainability and Investment Development Policy Financing Operation on the terms and conditions set out in the President’s Memorandum (IDA/R2016- 0249, dated November 1, 2016) 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. Mali – Credit – Mali Support to Agro-Industrial Competitiveness Project 6. The Executive Directors recorded their approval on November 22, 2016 of the credit in the amount of SDR 21.50 million (US$30 million equivalent) to Mali for the Mali Support to Agro-Industrial Competitiveness Project on the terms and conditions set out in the President’s Memorandum (IDA/R2016-0254, dated November 3, 2016). Mali – Urban Local Government Support Project – Proposal to Restructure 7. The Executive Directors recorded their approval on November 22, 2016 of the recommendation contained in paragraph 5 of the President’s Memorandum entitled “Mali – Urban Local Government Support Project – Proposal to Restructure� (IDA/R2016-0269, dated November 11, 2016). ***************************************************************************** THE BOARD OF DIRECTORS OF IFC India – Investment in Grameen Koota Financial Services Private Limited 8. The Board of Directors authorized on November 22, 2016 an investment in India – Grameen Koota Financial Services Private Limited (IFC/R2016-0316, dated November 10, 2016) in the form of non-convertible debentures of up to INR 1,350 million (approximately US$20 million equivalent). ***************************************************************************** THE BOARD OF DIRECTORS OF MIGA Armenia – Guarantee for Investment in ContourGlobal Hydro Cascade CJSC 9. The Board of Directors recorded its authorization on November 18, 2016 for the President to proceed with the issuance of the guarantee as set out in the Report from the President entitled “Armenia – Guarantee for Investment in ContourGlobal Hydro Cascade CJSC� (MIGA/R2016-0091, dated November 8, 2016). 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.