67946   FROM: Vice President and Corporate Secretary     Minutes of Joint 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 Tuesday, March 27, 2012, at 2:35 p.m.     1. There were present: CHAIR:   S.M. Indrawati, Managing Director   EXECUTIVE DIRECTORS AND ALTERNATES ACTING AS EXECUTIVE DIRECTORS:   I. Alturki (Alternate) S. James (Alternate)   M. Ayesu (Temporary Alternate) D. Kalyalya (Alternate) V. Brandon (Temporary Alternate) S. Lutfi (Temporary Alternate)   K. Dalrymple (Alternate) H. Manao V. Daza Foronda (Alternate) A. Mendes Dias   A. Fayolle A. Mihaylova (Temporary Alternate) J. Frieden T. Nishino (Temporary Alternate)   I. Garayo Orbe (Temporary Alternate) M. Pant (Temporary Alternate) V. Grishin G. Politakis (Temporary Alternate)   J. Haarlov (Alternate) W. Rissmann (Alternate) B. Han (Alternate) L. Shuaibu (Temporary Alternate)   A. Hernandez (Temporary Alternate) M. Willcock (Temporary Alternate) K. Huber   ALTERNATES NOT ACTING AS EXECUTIVE DIRECTORS:   G. Alzetta W. Szczuka   M.S. Kayad A. Touret-Blondy   OFFICERS AND STAFF PARTICIPATING:   E.   Secretary Marmolo, Acting Corporate R. Munoz Moreno, AFTP1* A.-M.Leroy, Senior Vice President and A. Akhlaque, AFTFE General Counsel, LEGVP T. Buckley, AFCZA O. Ezekwesili, Vice President, AFRVP W. Wiseman, AFTSP G. Binkert, Director, AFCC1* A. Bjerde, AFTSN H. Bridi, Director, AFCS4* M. van Ginneken, AFTUW G. Byam, Director, ECSOQ A. David, IMF J. Saghir, Director, AFTSN E. Ramirez Rigo, IMF M. Raiser, Director, ECCU6 L. Ikiring, Corporate Secretariat I.-M. Ruthenberg, ECCU6 *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-   Turkey - Country Partnership Strategy   2. The Executive Directors discussed the joint IBRD-IFC-MIGA Country Partnership Strategy for Turkey for the period FY2012-FY2015 (R2012-0043 [IFC/R2012-0048, MIGA/R2012-0006]; /1, dated   March 5 and March 21, 2012, respectively). (The Chair’s Summing Up of the discussion was subsequently distributed as SU2012-0009 [IFC/SU2012-0011, MIGA/SU2012-0004], dated April 4,   2012.)   Turkey - Development Policy Lending (Loan) - Third Programmatic Environmental Sustainability and Energy Sector Development Policy Operation (ESES DPL 3)   3. The Executive Directors considered the President's Memorandum and Recommendation   (R2012-0044, dated March 5, 2012) and approved the development policy loan to Turkey for a Third Programmatic Environmental Sustainability and Energy Sector Development Policy Operation (ESES   DPL 3) in the amount of EUR 455.4 million (US$600 million equivalent) on the payment terms and other terms and conditions set out in the President’s Memorandum.   Mauritius - Development Policy Lending (Loan) - Private Sector Competitiveness Development   Policy Operation   4. The Executive Directors considered the President's Memorandum and Recommendation (R2012-0041, dated March 5, 2012) and approved the development policy loan to Mauritius for a Private   Sector Competitiveness Development Policy Operation in the amount of GBP 9.6 million (US$15 million equivalent) on the payment terms and other terms and conditions set out in the President’s Memorandum.   Mauritius - Development Policy Lending (Loan) - Public Sector Performance Development Policy   Operation   5. The Executive Directors considered the President's Memorandum and Recommendation (R2012-0045, dated March 5, 2012) and approved the development policy loan for a Public Sector   Performance Development Policy Operation to Mauritius in the amount of US$20 million on the payment terms and other terms and conditions set out in the President’s Memorandum.   Cameroon - Credit - Lom Pangar Hydropower Project   6. The Executive Directors considered the President's Memorandum and Recommendation   (IDA/R2012-0057, dated March 7, 2012) and approved a credit to Cameroon for a Lom Pangar Hydropower Project in the amount of SDR 85.2 million (US$132 million equivalent) on the payment     terms and other terms and conditions set out in the President’s Memorandum. Ghana - Credit - Public Private Partnership Program Project (APL 1) 7. The Executive Directors approved the credit to Ghana for a Public Private Partnership Program Project (APL 1) in the amount of SDR 19.4 million (US$30 million equivalent) on the payment terms and other terms and conditions set out in the President’s Memorandum (IDA/R2012-0056, dated March 7, 2012). The adaptable program lending supports the first phase of a two-phase Public Private Partnership Program. 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-   Ghana - Additional Financing Grant - Urban Water Project   8. The Executive Directors approved the additional financing grant to Ghana for an Urban Water Project in the amount of SDR 32.3 million (US$50 million equivalent) on the terms and conditions set out   in the President’s Memorandum (IDA/R2012-0062, dated March 7, 2012).   Malawi - Credit and Grant - Nutrition, HIV and AIDS Project (NHAP)   9. The Executive Directors approved the credit and the grant to Malawi for a Nutrition, HIV and AIDS Project (NHAP) in the amounts of SDR 20.7 million (US$32 million equivalent) and SDR 31   million (US$48 million equivalent), respectively, on the payment terms and other terms and conditions set out in the President’s Memorandum (IDA/R2012-0063, dated March 7, 2012).   Armenia - GEF Trust Fund Grant - Energy Efficiency Project   10. The Executive Directors approved the grant from the Global Environment Facility (GEF) Trust   Fund to Armenia for an Energy Efficiency Project in the amount of US$1.82 million on the terms and conditions set out in the President’s Memorandum (GEF/R2012-0005, dated March 12, 2012).   Uzbekistan - Loan - Advanced Electricity Metering Project   11. The Executive Directors approved the loan to Uzbekistan for an Advanced Electricity Metering   Project in the amount of US$180 million on the payment terms and other terms and conditions set out in the President’s Memorandum (R2012-0047, dated March 7, 2012).   India - Credit - Rajasthan Agricultural Competitiveness Project   12. The Executive Directors approved the credit to India for a Rajasthan Agricultural   Competitiveness Project in the amount of SDR 70.3 million (US$109 million equivalent) on the payment terms and other terms and conditions set out in the President’s Memorandum (IDA/R2012-0050, dated   March 7, 2012).   Minutes of Previous Meetings   13. The Executive Directors recorded their approvals on March 21, 2012 of the Minutes of the meeting held on March 6, 2012 (M2012-0017 [IDA/M2012-0017]) and the Minutes of the joint meeting   also held on March 6, 2012 (M2012-0018[IDA/M2012-0018, IFC/M2012-0014, MIGA/M2012-0008]).   Acceptance of Amendment to   the Articles of Agreement and Subscription to Additional Shares - Enhancing Voice and Participation of Developing and Transition Countries (Record of Acceptances by Member Countries) 14. The Executive Directors recorded their approval on March 22, 2012 of the Report and the record of acceptances attached thereto entitled "Acceptance of Amendment to the Articles of Agreement and Subscription to Additional Shares - Enhancing Voice and Participation of Developing and Transition Countries (Record of Acceptances by Member Countries)" (R2012-0059, dated March 13, 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.    -4-   Date of Next Meeting   15. It was agreed to hold a meeting of the Executive Directors of the Bank and IDA on Thursday, March 29, 2012.   Adjournment   16. The meeting adjourned at 4:26 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.