68320     FROM: Vice President and Corporate Secretary     Minutes of Meeting of the Board of Directors of IFC,   held in the Board Room on Thursday, March 22, 2012, at 4:30 p.m.     1. There were present:   CHAIR:   R.-R. Kaldany, Vice President, CGIVP   EXECUTIVE DIRECTORS AND ALTERNATES ACTING AS EXECUTIVE DIRECTORS:   H. Al-Ghwell (Temporary Alternate) L. Laraia (Temporary Alternate) I. Alturki (Alternate) I. MacDonald (Temporary Alternate)   C. Asike (Temporary Alternate) S. Moongananiyil (Temporary Alternate) M. Ayesu (Temporary Alternate) T. Nishino (Temporary Alternate)   J. Baeten (Temporary Alternate) M. Pant (Temporary Alternate) D. Bohan (Alternate) W. Rissmann (Alternate)   H. Dufey (Temporary Alternate) L. Schneller (Temporary Alternate) K. Florestal (Temporary Alternate) L. Shuaibu (Temporary Alternate)   I. Garayo Orbe (Temporary Alternate) A. Ubelis (Temporary Alternate) S. James (Alternate) N. Viggiolo (Temporary Alternate)   D. Kalyalya (Alternate) M. Willcock (Temporary Alternate) S. Katash (Temporary Alternate) F. Zang (Temporary Alternate)   M.S.Kayad (Alternate)   OFFICERS AND STAFF PARTICIPATING:   E. Marmolo, Acting Corporate  Secretary D. Crist, CNGOG C. Philip, Chief Counsel, CLEAD K. Dorabawila, CSAR5 V. Gouarne, Director, CNGDR C. Miriti, CF2S6 J.P. Prosper, Director, CAFEO* M. Moses, CF2S6 J. Scriven, Director, CFGDR M. Muleri, Corporate Secretariat *Via Videoconference 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-   Cote d'Ivoire - Investment in Rialto Energy Limited   2. The Board of Directors considered the President's Memorandum and a Report on an investment in Rialto Energy Limited in Cote d'Ivoire (IFC/R2012-0067, dated 2012) and adopted the following   resolution:   RESOLUTION NO. IFC 2012-0021   RESOLVED:   (A) THAT the Corporation be authorized to conclude the transactions outlined in paragraph 7.1 of the Report substantially on the terms therein set forth; and   (B) THAT the President, Executive Vice President, a Vice President, a Department   Director, the General Counsel or a Deputy General Counsel, or any staff member of the Corporation authorized by any one of them, enter in the name and on behalf   of the Corporation, into an agreement or agreements providing for such transactions and containing such other terms and conditions as he or she, by the   execution thereof, shall approve.   Mr. Solomon wished to be recorded as opposed.   Kenya - Investment in Equity Bank Limited (EBL)   3. The Board of Directors considered the President's Memorandum and a Report on an investment in Equity Bank Limited (EBL) in Kenya (IFC/R2012-0066; /1, dated March 9, and March 20, 2012,   respectively) and adopted the following resolution:   RESOLUTION NO. IFC 2012-0022   RESOLVED:   (A) THAT the Corporation be authorized to conclude the transactions outlined in paragraph 7.1 of the Report substantially on the terms therein set forth; and   (B) THAT the President, Executive Vice President, a Vice President, a Department   Director, the General Counsel or a Deputy General Counsel, or any staff member of the Corporation authorized by any one of them, enter in the name and on behalf     into an agreement or agreements providing for such of the Corporation, transactions and containing such other terms and conditions as he or she, by the execution thereof, shall approve. 4. The Board of Directors recorded its authorization for Management to proceed with the following investments under the Streamlined Procedure: (a) South Africa - an investment in Finsch (IFC/R2012-0046, dated March 2, 2012) in the form of a senior loan of up to US$25 million, authorized on March 14, 2012. (b) Mexico - an investment in Proteak (IFC/R2012-0053, dated March 5, 2012) in the form of an "A" loan of up to US$15 million and a "B" loan of up to US$15 million, authorized on March 15, 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-   (c) Thailand - an investment in Continental Automotive Thailand Limited (IFC/R2012-0054, dated   March 5, 2012) in the form of an "A" loan of up to EUR 35 million (US$47 million equivalent) and a "B" loan of up to EUR 35 million (US$47 million equivalent), authorized on March 15,   2012.   (d) Ghana - an investment in Alliance Estates Limited (IFC/R2012-0056, dated March 7, 2012) in the form of an "A" loan of up to US$5.45 million, authorized on March 19, 2012.   (e) Latin America Region - an investment in Emergia Contact Center S.L. (Emergia LAC)   (IFC/R2012-0058, dated March 7, 2012) in the form of a senior loan of up to EUR 7.5 million (US$9.9 million equivalent), authorized on March 19, 2012.   (f) Egypt - an investment in Cairo Investment and Real Estate Development S.A.E.   (IFC/R2012-0060, dated March 7, 2012) in the form of a convertible "C" loan of up to US$15 million, authorized on March 19, 2012.   Adjournment   5. The meeting adjourned at 5:12 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.