FROM: Vice President and Corporate Secretary

            Minutes of a 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 July 26, 2018 at 10:04 a.m.

1.      There were present:
                                               CHAIR:
                                          Dr. Kim, President


EXECUTIVE DIRECTORS, ALTERNATES, AND TEMPORARY ALTERNATES
ACTING AS EXECUTIVE DIRECTORS:

     A.       Alkhalaf                               F.      Jimenez
     J.       Allford                                A.      Kabagambe
     J.       Baker                                  R.      Kachur
     S.       Bouda                                  D.      Kinder
     O.       Bougara                                K.      Koguchi
     O.       Canuto                                 P.      Pagano
     H.       de Villeroche                          K.      Panov
     F.       Godts                                  C.      Rose Innes
     W.       Gruber                                 A.      Subramani
     A.       Hadiyanto                              M.      Torero
     C.       Happe                                  S.      Ulbaek
     M.       Hasan                                  Y.      Yang
     C.       Hogan


OFFICERS AND STAFF PARTICIPATING:

     S.       Okoro, Senior Vice President and General Counsel
     E.       Tafara, Vice President and General Counsel, IFC
     A.       Kumar-Capoor, General Counsel, MIGA
     Y.       Tsikata, Vice President and Corporate Secretary
     K.       Honda, Executive Vice President and Chief Executive Officer, MIGA
     S.       von Friedeburg, Chief Operating Officer, IFC
     M.       Mohieldin, Senior Vice President
     V.       Iyer, Vice President and Chief Operating Officer, 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.
Farewell to Executive Director

2.     The Chair made the customary presentation to Mr. Kazuhiko Koguchi, Executive Director,
on expiration of his terms of service and tendered him good wishes for the future. The Executive
Directors recorded their appreciation.

Adjournment

3.      The meeting adjourned at 10:14 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.
        The following item(s) have been approved on an Absence-of-Objection Basis
                 or have been authorized to proceed on a Streamlined Basis
                                      on July 26, 2018


THE EXECUTIVE DIRECTORS OF THE BANK AND IDA

Peru – Loan - Modernization of Water Supply and Sanitation Services Project

1.      The Executive Directors recorded their approval on July 26, 2018 of a loan in the
amount of US$70 million to Peru for a Modernization of Water Supply and Sanitation Services
Project on the terms and conditions set out in the President’s Memorandum (R2018-0179, dated
July 9, 2018).



THE BOARD OF DIRECTORS OF IFC

South Africa - Investment in Business Partners Limited (BPL Senior Loan)

2.     The Board of Directors authorized on July 26, 2018 an investment in South Africa -
Business Partners Limited (BPL Senior Loan) (IFC/R2018-0215, dated July 16, 2018), in the
form of a senior loan of up to ZAR 600 million (approximately US$48 million equivalent).


THE EXECUTIVE DIRECTORS OF THE BANK AND IDA, THE BOARD OF DIRECTORS OF
IFC AND THE BOARD OF DIRECTORS OF MIGA


Executive Directors’ FY19 Budget

3.    The Executive Directors recorded their approval on July 26, 2018 of the report entitled
“Executive Directors’ FY19 Budget� (R2018-0186[IDA/R2018-0261, IFC/R2018-0248,
MIGA/R2018-0108], dated July 13, 2018).




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.