68917   FROM: Vice President and Corporate Secretary       Minutes of Joint Meeting of the Executive Directors of the Bank and IDA, and the Boards of Directors of IFC and MIGA,   held in the Board Room on Tuesday, May 1, 2012, at 10:04 a.m.     1. There were present:   CHAIR:   C.D. Anstey, Managing Director   EXECUTIVE DIRECTORS AND ALTERNATES ACTING AS EXECUTIVE DIRECTORS:   I. Alturki (Alternate) D. Kalyalya (Alternate) D. Bohan (Alternate) B. Lvin (Temporary Alternate)   A. Brandt A. Mendes Dias F.A. Camarasa R. Mokate   K. Dalrymple (Alternate) S. Moorehead A. Fayolle S. Nanu (Alternate)   E. Gimenez (Temporary Alternate) G. Politakis (Temporary Alternate) S. Gooch (Temporary Alternate) M.N. Prasad   B. Han (Alternate) R. Studart M. Hasan W. Szczuka (Alternate)   N. Hayashi J. Talat I. Hoven J. Whitehead   K. Huber   ALTERNATES NOT ACTING AS EXECUTIVE DIRECTORS:   V. Daza Foronda   W. Rissmann J. Haarlov Y. Takamura M.S.Kayad A. Touret-Blondy M. Muhtar 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-   OFFICERS AND STAFF PARTICIPATING:   E. Marmolo, Acting Corporate Secretary T. Telma, Director, CEUDR* A. Toft, Deputy General Counsel, LEGVP L. Tuck, Director, MNACS   I. Andersen, Vice President, MNAVP S. Akkaya, ECCKZ P. Le Houerou, Vice President, ECAVP F. Bousquet, MNSSD   C. Bruce, Director, AFRVP J. Bure, ECSS5 L. Carter, Director, C3PDR J. Emery, CAFSC   A.D.Craig, Director, MNC03* H. Kerali, ECSS5 Y. Crookes, Director, AFRVP A. Khamis, MNSUR   O. Diagana, Director, AFCW3 W. Zakout, MNCYE* S. Jha, Director, ECCU8* T. Duson, Corporate Secretariat   M. Tall, Director, AFCF2*   *Via Videoconference   Kazakhstan - Country Partnership Strategy   2. The Executive Directors discussed the joint IBRD-IFC Country Partnership Strategy for Kazakhstan for the period FY2012-FY2017 (R2012-0080[IFC/R2012-0109], dated April 9, 2012). The   Chair’s Summing Up of the discussion was subsequently distributed as SU2012-0016 [IFC/SU2012-0015], dated May 7, 2012.)   Kazakhstan - Loan - East-West Roads Project (Almaty–Khorgos Section): Western Europe–   Western China International Transit Corridor (CAREC-1b)   3. The Executive Directors considered the President's Memorandum and Recommendation (R2012-0079, dated April 10, 2012) and approved the loan to Kazakhstan for an East-West Roads Project   (Almaty–Khorgos Section): Western Europe–Western China International Transit Corridor (CAREC-1b) in the amount of US$1.068 billion on the payment terms and other terms and conditions set out in the   President’s Memorandum.   Yemen - Grant - Labor Intensive Public Works Project   4. The Executive Directors considered the President's Memorandum and Recommendation (IDA/R2012-0096, dated April 11, 2012) and approved the grant to Yemen for a Labor Intensive Public   Works Project in the amount of SDR 39.3 million (US$61 million equivalent) on the terms and conditions set out in the President’s Memorandum.     Oral Briefing - Executive Directors’ Group Travel to the Africa Region 5. Mr. Hasan briefed the Executive Directors on Directors' Group Travel (January 31 to February 12, 2012) to Ghana, Guinea–Conakry, and Cote d'Ivoire (SecM2012-0208 [IDA/SecM2012-0247, IFC/SecM2012-0027, MIGA/SecM2012-0014], dated April 24, 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-   Mozambique - Additional Financing Credit - Education Sector Support Project   6. The Executive Directors approved the additional financing credit to Mozambique for an Education Sector Support Project in the amount of SDR 25.8 million (US$40 million equivalent) on the   payment terms and other terms and conditions set out in the President’s Memorandum (IDA/R2012-0098, dated April 11, 2012).   Moldova - Credit and GEF Trust Fund Grant - Agriculture Competitiveness Project   7. The Executive Directors approved the credit and the grant from the Global Environment Facility   Trust Fund to Moldova for an Agriculture Competitiveness Project in the amounts of SDR 11.6 million (US$18 million equivalent) and US$4.435 million, respectively, on the payment terms and other terms   and conditions set out in the President’s Memorandum (IDA/R2012-0097[GEF/R2012-0009], dated April 11, 2012).   Brazil - Loan to the State of Rio Grande do Sul, With the Guarantee of Brazil - SWAP to   Strengthen Public Investment Project   8. The Executive Directors approved the loan to the State of Rio Grande do Sul, with the guarantee of Brazil, for a SWAP to Strengthen Public Investment Project in the amount of US$480 million on the   payment terms and other terms and conditions set out in the President’s Memorandum (R2012-0077, dated April 11, 2012).   Minutes of Previous Meetings   9. The Executive Directors recorded their approvals on April 26, 2012 of the Minutes of joint   meetings held on April 3, 2012 (M2012-0028 [IDA/M2012-0028, IFC/M2012-0024, MIGA/M2012-0012] and on April 6, 2012 (M2012-0031 [IDA/M2012-0031, IFC/M2012-0026,   MIGA/M2012-0013]).   Discontinuation of Long Term Income Portfolio   10. The Executive Directors recorded their approval on April 24, 2012 of the recommendation contained in paragraph 4 of the President's Memorandum entitled "Discontinuation of Long Term Income   Portfolio" (R2012-0083; /1, dated April 13 and April 16, 2012, respectively).   Mongolia - The Enhanced Justice Sector Services Project - Proposal to Restructure   11. The Executive Directors  recorded their approval on April 25, 2012 of the recommendation contained in paragraph 3 of the President's Memorandum entitled "Mongolia - The Enhanced Justice Sector Services Project - Proposal to Restructure" (IDA/R2012-0094, dated April 12, 2012). Inspection Panel - Kosovo - Kosovo Power Project (Proposed) - Request for Postponement of the Management Response 12. The Executive Directors recorded their approval on April 26, 2012 of the recommendation contained in paragraph 3 of the Memorandum from the Vice President and Corporate Secretary entitled "Inspection Panel - Kosovo - Kosovo Power Project (Proposed) - Request for Postponement of the Management Response" (IDA/R2012-0108, dated April 17, 2012), namely, that the deadline for completion of the Management Response will be extended until May 21, 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.    -4-   Proposals for Appointment of External Sanctions Board Members and Sanctions Board Chair   13. The Executive Directors recorded their approval on April 26, 2012 of the recommendations   contained in paragraphs 5 and 6 of the President's Memorandum entitled "Proposals for Appointment of External Sanctions Board Members and Sanctions Board Chair" (R2012-0084[IDA/R2012-0105,   IFC/R2012-0121, MIGA/R2012-0019], dated April 17, 2012).   Salary Administration Guidelines for Newly Appointed Executive Directors' Senior Advisors and Advisors   14. The Executive Directors recorded their approval on April 27, 2012 of the document from the Vice   President and Corporate Secretary entitled "Salary Administration Guidelines for Newly Appointed Executive Directors' Senior Advisors and Advisors" (R2012-0089[IDA/R2012-0112, IFC/R2012-0123,   MIGA/R2012-0020], dated April 18, 2012).   Date of Next Meeting   15. It was agreed to hold a meeting of the Executive Directors of the Bank and IDA on Thursday, May 3, 2012.   Adjournment   16. The meeting adjourned at 1:01 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.