70540   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, May 29, 2012, at 10:20 a.m.       1. There were present: CHAIR:   M. Mohieldin, Managing Director   EXECUTIVE DIRECTORS AND ALTERNATES ACTING AS EXECUTIVE DIRECTORS:   K. Alkhudairy (Temporary Alternate) H. Manao   D. Baransaka (Temporary Alternate) K. Morais (Temporary Alternate) A. Brandt M.-L. Morin   V. Daza Foronda (Alternate) T. Nishino (Temporary Alternate) V. Dhanpaul (Alternate) M.N. Prasad   E. Gimenez (Temporary Alternate) G. Ruggiero (Temporary Alternate) M. Hasan S. Sawadogo (Temporary Alternate)   I. Hoven I. Solomon H. Hua (Temporary Alternate) W. Szczuka (Alternate)   K. Huber A. Touret-Blondy (Alternate) S. James (Alternate) R. Treffers   A. Lamrani (Temporary Alternate) J. Whitehead B. Lvin (Temporary Alternate)   ALTERNATES NOT ACTING AS EXECUTIVE DIRECTORS:   A. Alkaffas S. Nanu   G. Alzetta     OFFICERS AND STAFF PARTICIPATING: J. Familiar, Vice President and O. Godron, AFCCM Corporate Secretary M. Gulati, ECSSD H. Abushakra, Chief Counsel, LEGES J. Herderschee, AFTP3 J. Armitage, Director, ECCU4 G. Konda, CEUST L. Frigenti, Director, AFRVP S. Kouame, AFMCG* E. Ouayoro, Director, AFCC2* J.-P. Olters, ECCKO R.K. Peters, Director, ECAVP C. Baker, IMF E. Bell, AFTP3 M. Muleri, Corporate Secretariat *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-   Republic of Congo - Poverty Reduction Strategy Paper and Joint IDA-IMF Staff Advisory Note   2. The Executive Directors discussed the Poverty Reduction Strategy Paper for the Republic of   Congo entitled "Poverty Reduction, Growth and Employment Strategy Paper 2 (PRSP-2)" covering the period 2012-2016 and a Joint IDA-IMF Staff Advisory Note on the PRSP-2 (IDA/SecM2012-0261, dated   May 4, 2012). (The Chair’s Summing Up was subsequently distributed as IDA/SU2012-0018, dated May 30, 2012.)   Kosovo - Country Partnership Strategy   3. The Executive Directors discussed the joint IDA-IFC-MIGA Country Partnership Strategy for   Kosovo for the period FY2012-FY2015 [IDA/R2012-0126[IFC/R2012-0140, MIGA/R2012-0024]; /1, dated May 4 and May 15, 2012, respectively). (The Chair’s Summing Up of the discussion was   subsequently distributed as IDA/SU2012-0017[IFC/SU2012-0019, MIGA/SU2012-0007, dated May 30, 2012.) Mr. Camarasa, Mr. Grishin, Mr. Prasad, and Mr. Yang indicated that, due to the fact that they are   unable to support the Kosovo CPS, they abstained from expressing their views on it, and wished this to be recorded in the Minutes.   Ethiopia - Credit - Electricity Network Reinforcement and Expansion Project   4. The Executive Directors approved the credit to Ethiopia for an Electricity Network   Reinforcement and Expansion Project in the amount of SDR 129.2 million (US$200 million equivalent) on the payment terms and other terms and conditions set out in the President’s Memorandum   (IDA/R2012-0127, dated May 8, 2012).   China - Loan - Xinjiang Yining Urban Transport Improvement Project   5. The Executive Directors approved the loan to China for a Xinjiang Yining Urban Transport Improvement Project in the amount of US$100 million on the payment terms and other terms and   conditions set out in the President’s Memorandum (R2012-0102, dated May 8, 2012). Mr. Solomon (via email dated May 28, 2012) wished to be recorded as abstaining.   China - GEF Trust Fund Grant - China Climate Technology Needs Assessment Project   6. The Executive Directors approved the grant to China from the Global Environment Facility Trust   Fund for a China Climate Technology Needs Assessment Project in the amount of US$5 million on the terms and conditions set out in the President’s Memorandum (GEF/R2012-0012, dated May 11, 2012).   Mr. Solomon (via email dated May  28, 2012) wished to be recorded as abstaining. Brazil - Loan to the Municipality of Recife, With the Guarantee of Brazil - Recife Education and Public Management Project 7. The Executive Directors approved the loan to the Municipality of Recife, with the guarantee of Brazil, for a Recife Education and Public Management Project in the amount of US$130 million on the payment terms and other terms and conditions set out in the President’s Memorandum (R2012-0104, dated May 8, 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.    -3-   Minutes of Previous Meetings   8. The Executive Directors recorded their approvals on May 17, 2012 of the Minutes of the joint   meeting held on May 1, 2012 (M2012-0035[IDA/M2012-0035, IFC/M2012-0031, MIGA/M2012-0016]), and on May 21, 2012 of the Minutes of the joint meeting held on May 10, 2012   (M2012-0038[IDA/M2012-0038, IFC/M2012-0033, MIGA/M2012-0018]).   Election of Bank and MIGA Boards – 2012   9. The Executive Directors recorded their approval on May 21, 2012 of the recommendation contained in paragraph 3 of the Memorandum from the Acting Corporate Secretary entitled "Election of   Bank and MIGA Boards – 2012" (R2012-0109[MIGA/R2012-0028], dated May 10, 2012), namely, the establishment of an Ad Hoc Committee for the 2012 Regular Elections of Bank Executive Directors and   the MIGA Board of Directors.   Date of Next Meeting   10. It was agreed to hold a meeting of the Executive Directors of the Bank and IDA on Thursday, May 31, 2012.   Adjournment   11. The meeting adjourned at 11:34 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.