70708
 

  FROM:        Vice President and Corporate Secretary

 

 
                     Minutes of Joint Meeting of the Boards of Directors of IFC and MIGA,
                      held in the Board Room on Thursday, May 17, 2012, at 11:12 a.m.

 

 
    1.      There were present:
                                                            CO-CHAIRS:

                                             I. Kobayashi, Executive Vice President
                                             R.-R. Kaldany, Vice President, CGIVP
 
    EXECUTIVE DIRECTORS AND ALTERNATES ACTING AS EXECUTIVE DIRECTORS:
 
  A. Alkaffas (Alternate)              M.-L. Morin
  K. Alkhudairy (Temporary Alternate)  T.    Nishino (Temporary Alternate)
  C. Asike (Temporary Alternate)       T.    Paganini (Temporary Alternate)
  M. Ayesu (Temporary Alternate)       K. Panov (Temporary Alternate)
  S. Belajec (Temporary Alternate)     M. Recente (Temporary Alternate)
  H. Dufey (Temporary Alternate)       J.    Rosseel (Temporary Alternate)
  J. Frieden                           K.-W.Schmitter (Temporary Alternate)
  I. Garayo Orbe (Temporary Alternate) H.A. Taha
  S. James (Alternate)                 A. Ubelis (Temporary Alternate)
  M.S.Kayad (Alternate)                N. Viggiolo (Temporary Alternate)
  N. Maddirala (Temporary Alternate)   J.    Whitehead
  H. Manao                             F.    Zang (Temporary Alternate)
  R. Mokate
 
  ALTERNATE NOT ACTING AS EXECUTIVE DIRECTOR:
 
  K. Dalrymple
                              
  OFFICERS AND STAFF PARTICIPATING:

    E.   Marmolo, Acting Corporate Secretary                    Y.     Charafi, CN2S6
    A.-M.Betancourt, General Counsel, MIGLC                     Z.     Lu, MIGOP
    D. Harris, Chief Counsel, CLEAA                             R.     Krech, Corporate Secretariat
    E.   Quintrell, Director, MIGOP




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 - IFC Investment in Azito Energie S.A. (Phase III) and MIGA Guarantee to Globeleq
  Holdings (Azito) Limited
 
  2.      The Boards of Directors of IFC and MIGA considered the Memorandum and the Report from the
  President (IFC/R2012-0143[MIGA/R2012-0025], dated May 4, 2012) on an IFC investment in Azito
  Energie S.A. (Phase III) and a MIGA Guarantee to Globeleq Holdings (Azito) Limited for its investment
  in Azito Energie S.A., in Cote d'Ivoire. The Board of Directors of MIGA concurred in the issuance of the
  guarantee on the terms and conditions set out in the President’s Report and the Board of Directors of IFC
  adopted the following resolution:

                                             RESOLUTION NO. IFC 2012-0032

            RESOLVED:

            (A)     THAT the Corporation be authorized to conclude the transactions outlined in
                    paragraphs 5.1 and 5.2 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.
 
    Adjournment
 
    3.      The meeting adjourned at 11:31 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.