OFFICIAL USE ONLY M2003-0072 IDA/M2003-0072 December 19, 2003 For meeting of Board: Tuesday, January 13, 2004 FROM: Vice President and Corporate Secretary Minutes of Meeting of the Executive Directors of the Bank and IDA held in the Board Room on Tuesday, November 18, 2003 at 10:06 a.m. 1. There were present: CHAIRMAN: Shengman Zhang, Managing Director EXECUTIVE DIRECTORS AND ALTERNATES ACTING AS EXECUTIVE DIRECTORS: A. Almofadhi (Alternate) A. Guadagni J. Alvarez (Temporary Alternate) Hadiyanto (Alternate) M. Amr (Alternate) Y. Harada J. Austin T. Ingolfsson K. Bayer L. Kasekende C. Brookins S. Katash (Temporary Alternate) F. Castro y Ortiz (Temporary Alternate) A. Khan (Alternate) S. Dib (Alternate) H. Krebs (Temporary Alternate) J. Droop (Temporary Alternate) E. Marmolo (Temporary Alternate) R. Furrer (Temporary Alternate) A. Melkert G. Ganga (Alternate) A. Requin (Alternate) P. Gomes W. Wang (Alternate) ALTERNATES NOT ACTING AS EXECUTIVE DIRECTORS: G. Alzetta T. Oya R. Holland A. Revollo 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- M2003-0072 IDA/M2003-0072 OFFICERS AND STAFF PARTICIPATING: P. Ofosu-Amaah, Vice President K. Ohashi, Director, SACNP and Corporate Secretary D. Bateman, SACNA R. Danino, Sr. Vice President and G. Heidenhof, AFTPR General Counsel, LEGVP D. Mattheisen, SECBO J. Goldstein, Managing Director, MDF W. van Eeghen, AFCMG S. Ahmed, Acting Vice President, SARVP H. Zaman, SASFP G. Lamb, Vice President, CFPVP A. Fayolle, IMF C. Madavo, Vice President, AFRVP H. Shishido, IMF H. Ghanem, Director, AFC08 R. Vaez-Zadeh, IMF P. Le Houerou, Director, FRM A. Bezeredi, Corporate Secretariat Briefing on IDA 13 Mid-Term Review 2. Mr. Geoffrey Lamb, Vice President, Concessional Financing and Global Partnerships, briefed the Executive Directors on the IDA 13 Mid-Term Review Meeting in Washington, D.C., November 4-5, 2003. Iraq – Appointment of IBRD Representative to the International Advisory and Monitoring Board (IAMB) 3. The Executive Directors were briefed on the appointment of Mr. Fayezul Choudhury, Vice President and Controller, as IBRD representative on the International Advisory and Monitoring Board (for Iraq), and Mr. Charles McDonough, Director, Accounting Department, as Mr. Choudhury’s alternate. Madagascar – Poverty Reduction Strategy Paper and Joint IDA-IMF Staff Assessment of the PRSP 4. The Executive Directors considered the “Madagascar – Poverty Reduction Strategy Paper and Joint IDA-IMF Staff Assessment of the PRSP” (IDA/SecM2003-0555, dated October 28, 2003). The Executive Directors agreed with the staff’s assessment that the PRSP remained a sound basis for further Bank and Fund concessional assistance. The Chairman’s Summing-Up was distributed as IDA/SecM2003-0596, dated November 19, 2003. Madagascar – Country Assistance Strategy 5. The Executive Directors discussed the Country Assistance Strategy for Madagascar (IDA/R2003-0197, dated October 28, 2003). The Chairman’s Concluding Remarks were distributed as IDA/SecM2003-0592, dated November 19, 2003. Credit to Madagascar – Governance and Institutional Development Project 6. The Executive Directors considered the President’s Memorandum and Recommendation (IDA/R2003-0201, dated October 28, 2003) and approved the credit for a Governance and Institutional Development Project to the Republic of Madagascar in the amount of SDR 21.9 million (US$30.0 million equivalent) on the payment terms and other terms and conditions set out in the President’s Memorandum. 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- M2003-0072 IDA/M2003-0072 Nepal – Poverty Reduction Strategy Paper and Joint IDA-IMF Staff Assessment of the PRSP 7. The Executive Directors considered the “Nepal – Poverty Reduction Strategy Paper and Joint IDA-IMF Staff Assessment of the PRSP” (IDA/SecM2003-0542, dated October 28, 2003). The Executive Directors agreed with the staff’s assessment that the PRSP remained a sound basis for further Bank and Fund concessional assistance. The Chairman’s Summing-Up was distributed as IDA/SecM2003-0595, dated November 19, 2003. Nepal – Country Assistance Strategy 8. The Executive Directors discussed the Country Assistance Strategy for Nepal (IDA/R2003-0191, dated October 28, 2003). The Chairman’s Concluding Remarks were distributed as IDA/SecM2003-0593, dated November 19, 2003. Credit to Nepal – First Poverty Reduction Support Credit 9. The Executive Directors considered the President’s Memorandum and Recommendation (IDA/R2003-0190, dated October 28, 2003) and approved the credit to the Kingdom of Nepal for a First Poverty Reduction Support Credit in the amount of SDR 51 million (US$70 million equivalent) on the payment terms and other terms and conditions set out in the President’s Memorandum. Date of Next Meeting 10. It was agreed to hold a meeting of the Executive Directors of the Bank and IDA on Thursday, November 20, 2003. Adjournment 11. The meeting adjourned at 1:32 p.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.