INTERNATIONAL BANK FOR RECONSTRUCTION AND
                                DEVELOPMENT

                                   BOARD OF GOVERNORS



                                    Resolution No. 652

          Financial Statements, Accountants’ Report and Administrative Budget


RESOLVED:

     THAT the Board of Governors of the Bank consider the Financial Statements, Accountants’
Report and Administrative Budget, included in the 2016 Annual Report, as fulfilling the
requirements of Article V, Section 13, of the Articles of Agreement and of Section 18 of the
By-Laws of the Bank.



                                                               (Adopted on October 7, 2016)