INTERNATIONAL BANK FOR RECONSTRUCTION AND
                                  DEVELOPMENT

                                     BOARD OF GOVERNORS



                                        Resolution No. 674

                                 Allocation of FY19 Net Income


RESOLVED:

1.    THAT the Report of the Executive Directors dated August 8, 2019 on “Allocation of FY19
Net Income” is hereby noted with approval;

2.   THAT the addition to the General Reserve of the IBRD of $831 million, plus or minus any
rounding amount less than $1 million, is hereby noted with approval;

3.    THAT the IBRD transfers to the International Development Association, by way of a grant out
of the FY19 net income of the IBRD, $259 million, which amount may be used by the Association
to provide financing in the form of grants in addition to loans; such transfer is to be drawn down by
the Association immediately upon approval by the Board of Governors of the IBRD; and

4.    THAT the IBRD retains $100 million as surplus.



                                                                     (Adopted on October 18, 2019)