69028

                               AUDIT COMMITTEE
                    COMMITTEE ON DEVELOPMENT EFFECTIVENESS

FROM: The Secretaries, Audit Committee and
           Committee of Development Effectiveness

                 Minutes of Joint Meeting held on Wednesday, February 29, 2012
                                 at 10:06 a.m. in the Board Room

Present:

Committee
Ms. Mokate (Chair)                    Ms. Massenet (Acting Alternate)
Ms. Brandt (co-Chair)                 Ms. Morin
Mr. Dhanpaul (Alternate)              Mr. Perez Morales (Acting Alternate)
Ms. Hoven                             Mr. Prasad
Mr. Huber                             Mr. Ruggiero (Acting Alternate)
Mr. Grishin                           Mr. Solomon
Mr. Kalyalya (Alternate)              Mr. Whitehead
Mr. Manao

Other Executive Directors and Alternates
Messrs./Mmes. Ahmad, Baeten, Bamba, Barclay, Bhatt, Bonaccorsi di Patti, Chroneos-Krasavac,
Delaney, Dybczakova, Florestal, Gerlag, Gimenez, Gooch, Hernandez, Hua, Li, Maddirala, Maor Shavit,
Mirjalili, Mufarrij, Ngirente, Paganini, Pant, Pedro, Peters, Rissmann, Rothschild, Sandu, Sandhu,
Sawadogo, Schneller, Suescun, Szczuka, Thakur, Thompson, Treffers, Ubelis, Von Der Goltz,
Vumendlini-Schalk, Wakamatsu, Wang and Zang

Officers and Staff
Messrs./Mmes. Alexander, Alonzo, Aviles, Ayoung, Becq, Bermingham, Chung, De Laurentiis, Donolo,
Frazier, Keicho, Khadr, Kolovou, Micheli, Sefta, von Amsberg, Wallich, Berger (Audit Committee
Secretary) and Legrottaglie (CODE Secretary)
 
The Bank's Procurement Policies and Procedures: Initiating Discussion and Approach Papers -
Proposed Review

1.      The Committee discussed the paper The Bank's Procurement Policies and Procedures: Initiating
Discussion and Approach Papers - Proposed Review (AC2012-0010; CODE2012-0007). The highlights
and conclusions of its discussion were circulated to the Board (AC/GS2012-0015; CODE/GS2012-0011).

Date of Next Meeting

2.       The Audit Committee was scheduled to meet in the afternoon of February 29, 2012 to discuss
An Approach for Managing Exposure in Borrowing Countries Close to the Single Borrower Limit,
Update on the World Bank Group Comprehensive Business Continuity Management Program, and INT’s
Fiscal Year 12 Quarter 2 Report. CODE was scheduled to meet on March 7, 2012 to discuss
Recommendations of External Review of Oversight and Accountability Units of the WBG focusing on the
Inspection Panel.

Adjournment

3.     The meeting adjourned at 11:55 a.m.