'( .~ International Bank for Reconstruction and Development International Development Association International Finance Corporation Multilateral Investment Guarantee Agency FOR OFFICIAL USE ONLY FOR For consideration on EXECUTIVE Tuesday. April 28, 1998 DIRECTORS' MEETING M98-23 ID~/M98-23 IFC/M98-14 MlG AI M98-S FROM: The Secretary Apri120,1998 Minutes of Joint Meeting of the Executive Directors of the IBRD and IDA and the Boards of Directors of IFC and MIGA, followed by a meeting of the Executive Directors of the IBRD and IDA held in the Board Room on April 2. 1998 at 10:25 a.m. 1. There were present: CHAIRMAN J. D. Wolfensohn, President EXECUTIVE DIRECTORS AND ALTERNATES ACTING AS EXECtTrIVE DIRECTORS S. Ahmed (Alternate) A. Al-Mofadhi (Temporary Alternate) M. Amr (Alternate) O. Bourges (Alternate) . A. Bourhane K. Brachemi J. Cariaga E. Del Bufalo G . Gaoseb (Alternate) L. Good J. Hutagalung Y-H. Lee M . Mt!yer F. Neergaard (Alternate) A. l'ishihara F. Passacanlando . ]. Piercy M. Porrugal (Alternate) B. Repansek (Temporary Alternate) H. Schaffer N . Soubbotin (Temporary Alternate) P. Siek M . Wickstt!aJ (Alternate) Zhao Xiaoyu (:\Iternal~) AtTERNATES NOT ACTING AS EXECUTIVE DIRECfORS I. Fernandt!z De Mesa I. Haque ]. Nogues This document has a restricted distribution and may be used by recipients only in (he performance of their official duties. Its contents may not otherwise be disclosed without \Vorld Bmk authorization. . M98-23 - 2- IDA/M98-23 lFC/M98-14 MIGA/M98-5 OFFICERS AND STAFF PARTICIPATING S. Sandstrom, Managing Director, Bank C. Bam, Vice President, Personnel, D. Berry, Vice President, Admin. & Corp. Business Dev., IFC Human Bank L. Dodero, Vice President C. Madavo, Vice Bank & General Counsel, MIGA D. Khairallah, Deputy General Counsel, A. Rigo, Deputy General Counsel, Admin., Finance & Inst. Affairs, Bank Operations, Bank Zhang Shengman, ""r·l""t.,ru J. Country M. ,AFTM2 J. A. van Trotsenburg, AFTDI H. Denton, Corporate Secretariat IBRD/lDAlIFCIMIGA BUSINESS Human Resources Policy Reform 2. The Executive Directors ofIBRD and the Boards of Directors ofIFC and MIGA considered the President's Memorandum and report entitled "Human Resources Policy Reform" (R98­ 1;MIGAIR98-9] dated March 6, 1998) and approved the recommendations in paragraph 130 and endorsed in principle that Management pursue the initiatives outlined in paragraph 13 I of the Report. It was agreed that the question of survivor benefits would be examined and a proposal, as required, would be to the Executive Directors for their consideration by January 1999. IBRD/IDA BUSINESS Uganda - HIPC Debt Initiative: President's Report and Completion Point Document 3. The Executive Directors considered the two documents (IDAIR98-33 dated March 23, 1998): (i) the Report and Recommendation of the President on Assistance to the Republic of Uganda Under the HIPC Debt Initiative, with (ii) the Completion Point Document Oointly prepared by the IMF and IDA staff), approved the recommendations in paragraph 15 of the and Recommendation of the President. Loan to Brazil- Federal Water n.':;"''''''' Management Project 4. The Executive Directors approved the loan to the Federative Republic of Brazil for a Federal Water Resources Management in the amount ofUS$198.0 million equivalent on M98-23 -3- IDA/M98-23 [FC/M98-14 MIGA/M98-5 the payment terms and other terms and conditions set out in the President's Memorandum (R98-59 dated March·16, 1998) PROCEDURE LOAN APPROVAL NO. Loan to Brazil- School Improvement Project - Fundescola I 5. The Executive Directors the loan to the Federative Republic of Brazil for a School Improvement Project - Fundescola I in the amount of US$62.5 million on the payment terms and other terms and conditions set out in the President's Memorandum (R98-58 dated March 16, 1998) (STREAMLINED PROCEDURE LOAN APPROVAL NO. 98-27). Date of Next 1'''''''''','''' 6. It was agreed to hold a meeting ofthe Executive Directors the Bank and IDA on 7, 1998. Adjournment 7. The at 11 :35 a.m. Distribution: Executive Directors and Alternates President Bank Group Senior Management Vice Presidents, Bank, IFC MIGA Directors and Department Bank, IFC and MIGA