34695 OFFICIAL USE ONLY M2005-0072 IDA/M2005-0072 December 14, 2005 For meeting of Board: Thursday, January 5, 2006 FROM: Vice President and Corporate Secretary Minutes of Meeting of the Executive Directors of the Bank and IDA held in the Board Room on Thursday, December 1, 2005, at 10:08 a.m. 1. There were present: CHAIRMAN: Paul Wolfowitz, President EXECUTIVE DIRECTORS AND ALTERNATES ACTING AS EXECUTIVE DIRECTORS: A. Almofadhi (Alternate) T. Ingolfsson G. Alzetta M. Ketsela (Alternate) M. Amr (Alternate) D. Kumar O. Canuto A. Kvasov A. Ciobanu (Alternate) M. Masse S. Dib T. O'Brien (Alternate) S. Dorasil (Temporary Alternate) Y. Okubo P. Duquesne L.P. Ong Seng (Alternate) J. Familiar (Alternate) F. Rossi (Temporary Alternate) A. Guadagni (Alternate) C. Sergeant (Alternate) Herwidayatmo P. Veglio R. Holland, III J. Yang (Alternate) ALTERNATES NOT ACTING AS EXECUTIVE DIRECTORS: Z. Khan S. Shah OFFICERS AND STAFF PARTICIPATING: W.P. Ofosu-Amaah, Vice President D. Newsom, SECIT and Corporate Secretary A. Walsh, Corporate Secretariat S. Al Habsy, Chief Counsel, LEGAF - 2 - M2005-0072 IDA/M2005-0072 Welcome to New Alternate Executive Director 2. The Chairman welcomed Ms. Anca Ciobanu, who was attending her first meeting in her capacity as Alternate Executive Director to Mr. Melkert. Credit to Bangladesh ­ Development Support Credit III 3. The Executive Directors approved the credit to the People's Republic of Bangladesh for a Development Support Credit III in the amount of SDR 138.1 million (US$200 million equivalent) on the payment terms and other terms and conditions set out in the President's Memorandum (IDA/R2005-0219, dated November 8, 2005). Credit to Mozambique ­ Financial Sector Technical Assistance Project 4. The Executive Directors approved the credit to the Republic of Mozambique for a Financial Sector Technical Assistance Project in the amount of SDR 7.3 million (US$10.5 million equivalent) on the payment terms and other terms and conditions set out in the President's Memorandum (IDA/R2005-0220, dated November 10, 2005). Grant from the GEF Trust Fund and Credit to Mozambique ­ Transfrontier Conservation Areas and Tourism Development Project 5. The Executive Directors approved the grant from the Global Environment Facility Trust Fund along with the IDA credit to the Republic of Mozambique for a Transfrontier Conservation Areas and Tourism Development Project in the amounts of US$10 million and SDR 13.9 million (US$20 million equivalent), respectively, on the payment terms and other terms and conditions set out in the President's Memorandum (GEF/R2005-0026[IDA/R2005-0221], dated November 10, 2005). Earthquake Restructuring and Additional Financing to Pakistan ­ AJK Community Infrastructure and Services Project; North West Frontier Province On-Farm Water Management Project; Second North West Frontier Province Community Infrastructure Project; Second Poverty Alleviation Fund Project; Highways Rehabilitation Project 6. The Executive Directors approved the following additional financing along with the reallocation of IDA and IBRD financing from ongoing IBRD/IDA projects that would be restructured, to Pakistan for Earthquake Emergency Recovery funding on the payment terms and other terms and conditions set out in the President's Memorandum (R2005-0242[IDA/R2005-0224], dated November 21, 2005): (a) AJK Community Infrastructure and Services Project (Cr. 3689) ­ additional financing of SDR 20.7 million (US$30 million equivalent); reallocation of SDR 6.9 million (US$10 million equivalent). (b) North West Frontier Province (NWFP) On-Farm Water Management Project (Cr. 3516) ­ additional financing of SDR 6.9 million (US$10 million equivalent) and reallocation of SDR 5.2 million (US$7.5 million equivalent); and the Second NWFP Community Infrastructure Project (Cr. 3906) ­ reallocation of SDR 8.666 million (US$12.5 million equivalent). 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 - M2005-0072 IDA/M2005-0072 (c) Second Poverty Alleviation Fund Project (Cr. 3834) ­ additional financing of SDR 68.9 million (US$100 million equivalent); and reallocation of SDR 3.53 million (US$5 million equivalent). (d) Highways Rehabilitation Project (Ln. 7212) ­ additional financing of US$100 million. Ghana: Trade Gateway and Investment Project (Credit 3114-GH) ­ Amendment to the Development Credit Agreement 7. The Executive Directors recorded their approval on November 23, 2005 of the recommendation contained in paragraph 30 of the President's Memorandum entitled "Ghana: Trade Gateway and Investment Project (Credit 3114-GH) ­ Proposed Amendment to the Development Credit Agreement" (IDA/R2005-0223, dated November 11, 2005). Trade Update 8. As agreed at the meeting, the oral update on the Doha Development Agenda was presented at an Informal Meeting immediately following this meeting. Date of Next Meeting 9. It was agreed to hold a meeting of the Executive Directors of the Bank and IDA on Tuesday, December 6, 2005. Adjournment 10. The meeting adjourned at 10:12 a.m. Distribution: Executive Directors and Alternates President Bank Group Senior Management Vice Presidents, Bank, IFC and MIGA Directors and Department Heads, Bank, IFC and MIGA 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.