FROM: Vice President & Corporate Secretary Minutes of 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 June 5, 2018 at 10:03 a.m. 1. There were present: CHAIR: S. Yang, Managing Director and WBG Chief Administrative Officer EXECUTIVE DIRECTORS, ALTERNATES, AND TEMPORARY ALTERNATES ACTING AS EXECUTIVE DIRECTORS: M. Abdul Karim A. Lushin T. Almutairi D. Kinder S. Bouda B. Kunene O. Bougara F. Neutze . Bvumbe N. Nishikata B. Catzaras P. Pagano R. Eletreby D. Quintero W. Gruber G. Schoenleitner D. Hernandez A. Subramani C. Hogan M. Torero J. Isaacs S. Ulbaek R. Kachur Y. Yang H. Kim OFFICERS AND STAFF PARTICIPATING: I. Kichigina, Acting Senior Vice President & General Counsel Y. Tsikata, Vice President and Corporate Secretary M. Diop, Vice President, Africa Region S. Pimenta, Regional Vice President, IFC O. Seydi, Director, IFC v. Pillai, Adviser Supporting Africa’s Transformation: Regional Integration & Cooperation Assistance Strategy 2. The Executive Directors discussed the joint IBRD/IDA/IFC/MIGA “Supporting Africa’s Transformation: Regional Integration & Cooperation Assistance Strategy� for the period FY18-FY23 (R2018-0086[IDA/R2018-0118, IFC/R2018-0131, MIGA/R2018-0042], dated May 11, 2018). Adjournment 3. The meeting adjourned 12:04 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. FROM: Vice President & Corporate Secretary Minutes of Meeting of the Executive Directors of the Bank and IDA held in the Board Room on June 5, 2018 at 12:09 a.m. 1. There were present: CHAIR: S. Yang, Managing Director and WBG Chief Administrative Officer EXECUTIVE DIRECTORS, ALTERNATES, AND TEMPORARY ALTERNATES ACTING AS EXECUTIVE DIRECTORS: M. Abdul Karim H. Kim T. Almutairi B. Kunene F. Bellocq F. Neutze S. Bouda N. Nishikata O. Bougara P. Pagano A. Bvumbe K. Panov R. Eletreby D. Quintero W. Gruber J. Stockill S. Helt A. Subramani D. Hernandez M. Torero C. Hogan P. Van der Stoelen J. Isaacs M. Zhang R. Kachur OFFICERS AND STAFF PARTICIPATING: I. Kichigina, Acting Senior Vice President & General Counsel Y. Tsikata, Vice President & Corporate Secretary M. Diop, Vice President, Africa Region J. Irigoyen, Senior Director S. Jorgensen, Director Q. Khan, Lead Economist T. George, Senior Public Sector Specialist 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. Cote d’Ivoire, Guinea and ECOWAS Commission – Credits, Grants and IDA Financing – West Africa Unique Identification for Regional Integration and Inclusion (WURI) Multiphase Programmatic Approach (MPA) 2. The Executive Directors considered the President’s Memorandum and Recommendation (IDA/R2018-00125, dated May 15, 2018) and approved the IDA financing envelope for the Multiphase Programmatic Approach (MPA) program consisting of in Phase 1 - (i) credit in the amount of EUR 54.7 million (US$67.4 million equivalent) to Cote d’Ivoire; (ii) credit in the amount of SDR 17.1 million (US$24.85 million equivalent to Guinea; and Phase 2 - (iii) IDA grant in the amount of SDR 17.1 million (US$24.85 million equivalent) to Guinea; (iv) Regional IDA grant in the amount of SDR 3.5 million (US$5 million equivalent) to the ECOWAS Commission; and (v) IDA financing in the amount of US$195 million for Phase 2, for the West Africa Unique Identification for Regional Integration and Inclusion (WURI) Multiphase Programmatic Approach on the terms and conditions set out in the President’s Memorandum. Adjournment 3. The meeting adjourned 12:55 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. FROM: Vice President & Corporate Secretary Minutes of 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 June 5, 2018 at 2:35 p.m. 1. There were present: CHAIR: S. Yang, Managing Director and WBG Chief Administrative Officer EXECUTIVE DIRECTORS, ALTERNATES, AND TEMPORARY ALTERNATES ACTING AS EXECUTIVE DIRECTORS: M. Abdul Karim F. Neutze A. Alkhalaf P. Pagano J. Allford D. Quintero A. Bvumbe M. Robinson A. Carrigan G. Schoenleitner B. Catzaras E. Smith R. Dominguez A. Subramani R. Eletreby J-C. Tchatchouang Z. Haleemi M. Torero M. Joao S. Ulbaek R. Kachur Y. Yang K. Koguchi K. Zajdel-Kurowska A. Lushin OFFICERS AND STAFF PARTICIPATING: I. Kichigina, Acting Senior Vice President & General Counsel Y. Tsikata, Vice President and Corporate Secretary C. Muller, Vice President, ECA Region A. Banerji, Country Director *W. Schloemer, Director, IFC C. Pinerua, Country Manager G. Verheyen, Underwriter, MIGA *via videoconference Poland – Country Partnership Framework 2. The Executive Directors discussed the joint IBRD/IFC/MIGA Country Partnership Framework for Poland for the period FY19-FY24 (R2018-0083[IFC/R2018-0129, MIGA/R2018-0041], dated May 11, 2018). Adjournment 3. The meeting adjourned 4:13 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. The following item(s) have been approved on an Absence-of-Objection Basis or have been authorized to proceed on a streamlined basis between May 25, 2018 – June 5, 2018 THE EXECUTIVE DIRECTORS OF THE BANK AND IDA Cote d’Ivoire – Credit – E-Agriculture Project 1. The Executive Directors recorded their approval on May 25, 2018 of the credit in the amount of EUR 56.8 million (US$70 million equivalent) to Cote D’Ivoire for the E-Agriculture Project on the terms and conditions set out in the President’s Memorandum (IDA/R2018-0115, dated May 8, 2018). Albania – Additional Financing – Energy Community of South East Europe Program Adaptable Program Loan (ECSEE APL5) Dam Safety Project (Phase 5) 2. The Executive Directors recorded their approval on May 25, 2018 of the additional loan in the amount of EUR 12 million (US$14.2 million equivalent) to Albania for the Energy Community of South East Europe Program Adaptable Program Loan (ECSEE APL5) Dam Safety Project (Phase 5) on the terms and conditions set out in the President’s Memorandum (R2018-0078, dated May 8, 2018). Kyrgyz Republic – Credit and Grant – Enhancing Resilience in Kyrgyztan Project 3. The Executive Directors recorded their approval on May 25, 2018 of the credit in the amount of SDR 6.9 million (US$10 million equivalent) and grant in the amount of SDR 6.9 million (US$10 million equivalent) to Kyrgyz Republic for the Enhancing Resilience in Kyrgyztan Project on the terms and conditions set out in the President’s Memorandum (IDA/R2018-0112), dated May 8, 2018). Pakistan – Credit – Punjab Cities Program – Program-for-Results 4. The Executive Directors recorded their approval on May25, 2018 of the credit in the amount of SDR 137.6 million (US$200 million equivalent) to Pakistan for the Punjab Cities Program on the terms and conditions set out in the President’s Memorandum (IDA/R2018-0114, dated May 8, 2018). Mr. Bethel wished to be recorded as abstaining. Pakistan – Credit – Punjab Green Development Program – Program-for-Results 5. The Executive Directors recorded their approval on May 25, 2018 of the credit in the amount of SDR 137.6 million (US$200 million equivalent) to Pakistan for the Punjab Green Development Program on the terms and conditions set out in the President’s Memorandum (IDA/R2018-0111, dated May 8, 2018). Pakistan – Credit – Pakistan Hydromet and DRM Services Project 6. The Executive Directors recorded their approval on May25, 2018 of the credit in the amount of SDR 129.4 million (US$188 million equivalent) to Pakistan for the Pakistan Hydromet and DRM Services Project on the terms and conditions set out in the President’s Memorandum (IDA/R2018-0113, dated May 8, 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. Pakistan – Additional Financing - Sindh Barrages Improvement Project 7. The Executive Directors recorded their approval on May 25, 2018 of the additional credit in the amount of SDR 96.3 million (US$140 million equivalent) to Pakistan for the Sindh Barrages Improvement Project on the terms and conditions set out in the President’s Memorandum (IDA/R2018- 0110, dated May 8, 2018). India – Additional Financing – PMGSY Rural Roads Project 8. The Executive Directors recorded their approval on May 25, 2018 of the additional loan in the amount US$500 million to India for the PMGSY Rural Roads Project on the terms and conditions set out in the President’s Memorandum (R2018-0080, dated May 8, 2018). Mr. Bethel wished to be recorded as abstaining. Angola – Loan – Commercial Agriculture Development Project 9. The Executive Directors recorded their approval on May 29, 2018 of the loan in the amount of EUR 105.5 million (US$130 million equivalent) to Angola for the Commercial Agriculture Development Project on the terms and conditions set out in the President’s Memorandum (R2018-0082, dated May 9, 2018). Mr. Bethel wished to be recorded as abstaining. Rwanda – Credit – Transformation of Agriculture Sector Program 4 Program-for-Results Phase 2 10. The Executive Directors recorded their approval on May 29, 2018 of the credit in the amount of SDR 69.6 million (US$100 million equivalent) to Rwanda for the Transformation of Agriculture Sector Program 4 Program-for-Results Phase 2 on the terms and conditions set out in the President’s Memorandum (IDA/R2018-0116, dated May 9, 2018). Tunisia – Loan – Irrigated Agriculture Intensification Project 11. The Executive Directors recorded their approval on May 29, 2018 of the loan in the amount of EUR 113.6 million (US$140 million equivalent) to Tunisia for the Irrigated Agriculture Intensification Project on the terms and conditions set out in the President’s Memorandum (R2018-0071; /3, dated April 30, 2018 and May 17, 2018, respectively). Republic of Congo – Loan – Support to Enterprise Development and Competitiveness Project 12. The Executive Directors recorded their approval on May 30, 2018 of the loan in the amount of EUR 20.3 million (US$25 million equivalent) to the Republic of Congo for the Support to Enterprise Development and Competitiveness Project on the terms and conditions set out in the President’s Memorandum (R2018-0085, dated May 10, 2018). Indonesia – Loan – Integrated Infrastructure Development for National Tourism Strategic Areas (Indonesia Tourism Development Project) 13. The Executive Directors recorded their approval on May 30, 2018 of the loan in the amount of US$300 million to Indonesia for the Integrated Infrastructure Development for National Tourism Strategic Areas Tourism Development Project on the terms and conditions set out in the President’s Memorandum (R2018-0086, dated May 10, 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. Marshall Islands – Grant – Project to Strengthen Budget Execution and Financial Reporting Systems 14. The Executive Directors recorded their approval on May 30, 2018 of the grant in the amount of SDR 6.2 million (US$9 million equivalent) to Marshall Islands for the Project to Strengthen Budget Execution and Financing Reporting Systems on the terms and conditions set out in the President’s Memorandum (IDA/R2018-0119, dated May 10, 2018). Micronesia – Grant – Project for Strengthening Public Financial Management 15. The Executive Directors recorded their approval on May 30, 2018 of the grant in the amount of SDR 7.6 million (US$11 million equivalent) to Micronesia for the Project for Strengthening Public Financial Management on the terms and conditions set out in the President’s Memorandum (IDA/R2018- 0117, dated May 10, 2018). Ghana – Additional Financing – Ghana Commercial Agriculture Project 16. The Executive Directors recorded their approval on May 31, 2018 of the additional credit in the amount of SDR 34.8 million (IS$50 million equivalent) to Ghana for the Ghana Commercial Agriculture Project on the terms and conditions set out in the President’s Memorandum (IDA/R2018-0121, dated May 11, 2018). Guinea-Bissau – Grant – Strengthening Maternal and Child Health Service Delivery in Guinea- Bissau Project 17. The Executive Directors recorded their approval on May 31,2018 of the grant in the amount of SDR 17.2 million (US$25 million equivalent) to Guinea-Bissau for the Strengthening Maternal and Child Health Service Delivery in Guinea-Bissau Project on the terms and conditions set out in the President’s Memorandum (IDA/R2018-0122, dated May 11, 2018). Senegal – Additional Financing – Quality Improvement and Equity of Basic Education Project 18. The Executive Directors recorded their approval on May 31, 2018 of the additional credit in the amount EUR 48.7 million (US$60 million equivalent) to Senegal for the Quality Improvement and Equity of Basic Education Project on the terms and conditions set out in the President’s Memorandum (IDA/R2018-0124, dated May 11, 2018). Haiti – Grant – Rural Accessibility and Resilience Project 19. The Executive Directors recorded their approval on May 31, 2018 of the grant in the amount of SDR 51.6 million (US$75 million equivalent) to Haiti for the Rural Accessibility and Resilience Project on the terms and conditions set out in the President’s Memorandum (IDA/R2018-0120, dated May 11, 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. Haiti – Additional Financing – Improving Haiti’s Public Financial Management and Statistical Information Project 20. The Executive Directors recorded their approval on May 31, 2018 of the additional grant in the amount of SDR 10.4 million (US$15 million equivalent) to Haiti for the Improving Haiti’s Public Financial Management and Statistical Information Project on the terms and conditions set out in the President’s Memorandum (IDA/R2018-0123, dated May 11, 2018). West Bank and Gaza – Grant – Innovative Private Sector Development Project 21. The Executive Directors recorded their approval on June 1, 2018 of the grant from the Trust Fund for Gaza and the West Bank, administered by the International Development Association to the Palestinian Liberation Organization (for the benefit of the Palestinian Authority) in the amount of US$13 million for the Innovative Private Sector Development Project on the terms and conditions set out in the President’s Memorandum (IDA/R2018-0128, dated May 15, 2018). West Bank and Gaza – Grant – Public Financial Management Improvement Project 22. The Executive Directors recorded their approval on June 1, 2018 of the grant from the Trust Fund for Gaza and the West Bank, administered by the International Development Association to the Palestinian Liberation Organization (for the benefit of the Palestinian Authority) in the amount of US$3 million for the Public Financial Management Improvement Project on the terms and conditions set out in the President’s Memorandum (IDA/R2018-0129/2, dated May 15, 2018). Cabo Verde – Credit – State Owned Enterprises Related Fiscal Management Project 23. The Executive Directors recorded their approval on June 4, 2018 of the credit in the amount of SDR 13.8 million (US$20 million equivalent) to Cabo Verde for the State Owned Enterprises Related Fiscal Management Project on the terms and conditions set out in the President’s Memorandum (IDA/R2018-0132/2, dated May 23, 2018). Montenegro – Loan – Second Energy Efficiency Project 24. The Executive Directors recorded their approval on June 4, 2018 of the loan in the amount of EUR 6 million (US$7.39 million equivalent) to Montenegro for the Second Energy Efficiency Project on the terms and conditions set out in the President’s Memorandum ((R2018-0089, dated May 15, 2018). India – Loan – Atal Bhujal Yojana (ABHY) – National Groundwater Management Improvement Program – Program-for-Results 25. The Executive Directors recorded their approval on June 5, 2018 of the loan in the amount of US$450 million to India for the Atal Bhujal Yojana (ABHY) – National Groundwater Management Improvement Program on the terms and conditions set out in the President’s Memorandum (R2018-0096, dated May 16, 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. THE BOARD OF DIRECTORS OF IFC Indonesia – Investment in PT Bank OCBCNISP Tbk (OCBCNISP Debt) 26. The Board of Directors authorized on May 25, 2018 an investment in Indonesia – PT Bank OCBCNISP Tbk (IFC/R2018-0143, dated May 15, 2018) in the form of a subscription to senior, unlisted, unsecured, US dollar or IDR denominated and privately placed medium term debt instrument (hereinafter referred to as “Green Bond�) of up to US$150 million for IFC’s own account. India – Investment in Craftsman Automation Limited for the Craftsman III Project 27. The Board of Directors authorized on May 25, 2018 an investment in India – Craftsman Automation Limited (IFC/R2018-0142, dated May 15, 2018) in the form of an “A� loan of up to US$30 million. Indonesia – Investment in PT Surya Semesta Internusa for the SSIA Ind Est Project 28. The Board of Directors authorized on May29, 2018 an investment in Indonesia – PT Surya Semesta Internusa (IFC/R2018-0148, dated May 16, 2018) in the form of a straight senior loan package of up to US$100 million, consisting of an “A� loan of up to US$58 million and the remaining balance through Managed Co-Lending Portfolio Program (MCPP) loan. Philippines – Investment in Fullerton Health Philippines Holdings Corporation for the Fullerton Health Project 29. The Board of Directors authorized on May 18, 2018 an investment in Philippines – Fullerton Health Philippines Holdings Corporation (IFC/R2018-0147, dated May 16, 2018) in the form of an “A� loan of up to US$40 million. Africa Region – Investment in GTST Sahara 30. The Board of Directors authorized on May 30, 2018 an investment in Africa Region – GTST Sahara (IFC/R2018-0150, dated May 17, 2018) in the form of an unfunded Risk Participation of up to US$100 million. Ghana – Investment in Cal Bank II 31. The Board of Directors authorized on May 30, 2018 an investment in Ghana – Cal Bank II (IFC/R2018-0157, dated May 17, 2018) in the form of a senior loan of up to US$50 million. Mauritania – Investment in GTST Mauritania 32. The Board of Directors authorized on May 30, 2018 an investment in Mauritania – GTST Mauritania (IFC/R2018-0153, dated May 17, 2018 in the form of a funded participation of up to US$40 million. 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. Brazil – Investment in Bauducco Growth 33. The Board of Directors authorized on May 30, 2018 an investment in Brazil – Bauducco Growth (IFC/R2018-0154, dated May 17, 2018) in the form of (i) an “A� loan of up to US$25 million for its own account, (ii) a loan of up to US$12.5 million from IFC acting in its capacity as the implementing entity for the Managed Co-Lending Portfolio (MCPP), and (iii) a “B� loan of up to US$35 million for the account of participants . Brazil – Investment in Usina Açucareira S. Manoel S/A for the Sao Manoel Project 34. The Board of Directors authorized on May30, 2018 an investment in Brazil - Usina Açucareira S. Manoel S/A (IFC/R2018-0152, dated May 17, 2018) in the form of a long-term financing package comprising (i) an “A1� loan of up to BRL 75 million (approximately US$21 million equivalent), (ii) an “A2� loan of up to US$2 million or BRL linked equivalent, and (iii) a “B� loan of up to US$9.3 million. Paraguay – Investment in Agrotec III 35. The Board of Directors authorized on May 30, 2018 an investment in Paraguay – Agrotec III (IFC/R2018-0146; /1, dated May 16, 2018 and May 29, 2018, respectively) in the form of (i) an “A� loan facility of up to US$100 million to be made available through five one-year commitments of up to US$20 million each, and (ii) a five-year “A� loan of up to US$5 million. Mr. Zattler wished to be recorded as abstaining. World Region – Investment in GTLP Citi IV 36. The Board of Directors authorized on May 31, 2018 an investment in World Region – GTLP Citi IV (IFC/R2018-0160, dated May 18, 2018) in the form of a funded risk participation of up to US$600 million. Ukraine – Investment in Agrofusion Group for the Agrofusion CL Project 37, The Board of Directors authorized on May 31, 2018 an investment in Ukraine – Agrofusion Group (IFC/R2018-0151, dated May 18, 2018) in the form of an “A� loan of up to US$17 million. Cambodia – Investment in Amret Company Limited 38. The Board of Directors authorized on June 4, 2018 an investment in Cambodia – Amret Company Limited (IFC/R2018-0162, dated May 22, 2018) in the form of a senior loan for an aggregate amount of up to US$80 million, consisting of an “A� loan of up to US$10 million for IFC’s own account, and a “B� loan of up to US$70 million for the account of participants. Luxembourg – Investment in APS Holding S.A. (DARP APS 2) 39. The Board of Directors authorized on June 4, 2018 an investment in Luxembourg – APS Holding S.A. (IFC/R2018-0164, dated May 22, 2018) consisting of: (i) quasi-equity instruments comprised of profit participating notes and an investment in the form of a limited partner, in the amount of up to EUR100 million (US$119 million equivalent) to APS Holding S.A. owned distressed asset investment vehicles and (ii) an equity investment in APS Holding S.A. of up to EUR6.75 million (US$8 million equivalent) for a minority stake. 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. Bangladesh – Investment in Esquire Knit Composite Limited 40. The Board of Directors authorized on June 4, 2018 an investment in Bangladesh – Esquire Knit Composite Limited (IFC/R2018-0158, dated May 22, 2018) in the form of an “A� loan of up to US$22 million. India – Investment in Oriental Infra Trust (InvIT) 41. The Board of Directors authorized on June 4, 2018 an investment in India – Oriental Infra Trust (InvIT) (IFC/R2018-0163, dated May 22, 2018) in the form of an equity / quasi-equity investment of up to INR 1,950 million (approximately US$30 million equivalent) and senior debt of up to INR 4,875 million (approximately US$75 million equivalent). Mr. Bethel wished to be recorded as abstaining. Senegal – Investment in Polykrome 42. The Board of Directors authorized on June 5, 2018 an investment in Senegal – Polykrome (IFC/R2018-0168, dated May 23, 2018) in the form of an “A� loan of up to EUR 5 million and a syndicated loan of up to EUR 4 million. Mexico – Investment in CIE Berriz, S.L. for the CIE Auto Mexico Project 43. The Board of Directors authorized on June 5, 2018 an investment in Mexico – CIE Berriz, S.L. (IFC/R2018-0161/1-2, dated May 21, 2018 and May 31, 2018, respectively) in the form of an “A� loan of up to US$75 million. Mr. Bethel wished to be recorded as opposing *********************************************************************************** THE EXECUTIVE DIRECTORS OF THE BANK AND IDA, THE BOARD OF DIRECTORS OF IFC AND THE BOARD OF DIRECTORS OF MIGA East Asia and the Pacific Region – Investment in ANZ Bank New Zealand Limited (RSF ANZ Pacific) and Pacific Island Countries (“PIC�) and Timor Leste – Support from IDA18 IFC-MIGA Private Sector Window Blended Finance Facility for the IFC Investment in ANZ Bank New Zealand Limited (“ANZ�) 44. The Board of Directors of IFC authorized on May 30, 2018 an investment in East Asia and the Pacific Region – ANZ Bank New Zealand Limited (IFC/R2018-0156, dated May 17, 2018) and IFC acting as Implementing Entity of the IDA Private Sector Window with the support of IDA18 Private Sector Window Blended Finance Facility and of the New Zealand Ministry of Foreign Affairs and Trade in the form of an unfunded risk sharing facility of up to US$25 million. 45. The Executive Directors recorded their approval on May 30, 2018 of the allocation from the IDA18 IFC-MIGA Private Sector Window (PSW) Blended Finance Facility (BFF) of up to US$5 million to the International Finance Corporation (IFC) in support of IFC’s investment in ANZ Bank New Zealand Limited in Pacific Island Countries and Timor Leste on the terms and conditions set out in the President’s Memorandum (IDA/R2018-0138, dated May 17, 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. 2018 General and Selective Capital Increases – Draft Report and Board of Governors Resolutions 46. The Executive Directors recorded their approval on June 4, 2018 of the recommendation in paragraph 6 of the Memorandum of the President entitled “2018 General and Selective Capital Increases – Draft Report and Board of Governors Resolutions� (R2018-0110[IFC/R2018-0172], dated May 23, 2018). Cote d’Ivoire – Investment in Société Ivoirienne de Banque (SIB SME Risk Sharing Facility II) and Support from IDA18 IFC-MIGA Private Sector Window Blended Finance Facility for the IFC Investment in Société Ivoirienne de Banque Cote d’Ivoire (“SIB�) by way of Inclusion in the IFC Small Loan Guarantee Program (“SLGP�) 47. The Board of Directors authorized on June 5, 2018 an investment in Cote d’Ivoire - Société Ivoirienne de Banque (SIB SME Risk Sharing Facility II) (IFC/R2018-0169, dated May 23, 2018)) and IFC acting as Implementing Entity of the IDA Private Sector Window with the support of IDA18 Private Sector Window Blended Finance Facility in the form of a risk sharing facility of up to XOF 10 billion (approximately US$18.4 million equivalent). 48. The Executive Directors recorded their approval on June 5, 2018 of the allocation from the IDA18 IFC-MIGA Private Sector Window (PSW) Blended Finance Facility (BFF) to the International Finance Corporation (IFC) in support of IFC’s investment in Société Ivoirienne de Banque Cote d’Ivoire (“SIB�) by way of Inclusion in the IFC Small Loan Guarantee Program (“SLGP�) on the terms and conditions set out in the President’s Memorandum (IDA/R2018-0145, dated May 23, 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.