FROM: Vice President & Corporate Secretary Minutes of Meeting of the Executive Directors of the Bank and IDA held in the Board Room on June 30, 2017 at 10:03 a.m. 1. There were present: CHAIR: S. Yang, Managing Director & WBG Chief Administrative Officer EXECUTIVE DIRECTORS, ALTERNATES, AND TEMPORARY ALTERNATES ACTING AS EXECUTIVE DIRECTORS: T. Almutairi N. Khosa Z. Allawi H. Kim M. Bhuiyan D. Kinder S. Bouda B. Kunene A. Bvumbe X. Li B. Catzaras E. Miagkov C. DeLuca N. Mota Pinto C. Doltu R. Schroeder P. Donaldson Y. Suzuki M. Florestal M. Torero F. Godts S. Ulbaek W. Gruber P. Upadhyay A. Hernandez OFFICERS AND STAFF PARTICIPATING: S. Musiime, Acting Senior Vice President & General Counsel F. Molnar, Acting Senior Vice President & General Counsel Y. Tsikata, Vice President and Corporate Secretary O. Avalle, Acting Vice President and Corporate Secretary M. Diop, Vice President, Africa Region M. Murthi, Acting Vice President, Africa Region C. Muller, Vice President, ECA Region L. Cord, Country Director *L. Burunciuc, Country Director P. Anos Casero, Director L. Monari, Director L. Moller, Practice Manager J. Lampietti, Practice Manager M. Haney, Practice Manager S. Djumena, Country Program Coordinator D. Gallegos, Lead ICT Policy Specialist R. Wrobel, Senior Social Development Specialist P. Geli, Economist *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. Gambia – Development Policy Credit and Grant – Emergency Development Policy Financing 2. The Executive Directors considered the President’s Memorandum and Recommendation (IDA/R2017-0252), dated June 22, 2017) and approved the credit in the amount of SDR 22.3 million (US$30.8 million equivalent) and grant in the amount of SDR 18.3 million (US$25.2 million equivalent) to Gambia for the Emergency Development Policy Financing on the terms and conditions set out in the President’s Memorandum. Ms. Mathiasen wished to be recorded as abstaining. Senegal – Development Policy Credit – First Multi-Sectoral Structural Reform Development Policy Financing 3. The Executive Directors considered the President’s Memorandum and Recommendation (IDA/R2017-0190/2, dated June 13, 2017) and approved the credit to Senegal in the amount of EUR 54.9 million (US$60 million equivalent) for the First Multi-Sectoral Structural Reform Development Policy Financing on the terms and conditions set out in the President’s Memorandum. Ms. Ulbaek wished to be recorded as opposing and Mr. Zattler as abstaining. Uzbekistan – Credit – Ferghana Valley Water Resources Management Project – Phase II 4. The Executive Directors considered the President’s Memorandum and Recommendation (IDA/R2017-0222, dated June 12, 2017) and approved the credit to Uzbekistan in the amount of US$144.90 million for the Ferghana Valley Water Resources Management Project – Phase II on the terms and conditions set out in the President’s Memorandum. Mmes. Mathiasen, Ulbaek and Robinson wished to be recorded as abstaining and Mr. Allford as opposing. Adjournment 3. The meeting adjourned at 1:38 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. The following item(s) have been approved on an Absence-of-Objection Basis or have been authorized to proceed on a streamlined basis on June 30, 2017 THE EXECUTIVE DIRECTORS OF THE BANK AND IDA Central African Republic – IDA Grant – Rural Connectivity Project 1. The Executive Directors recorded their approval on June 30, 2017 of the grant in the amount of SDR 32.6 million (US$45 million equivalent) to Central African Republic for the Rural Connectivity Project on the terms and conditions set out in the President’s Memorandum (IDA/R2017-0247, dated June 21, 2017). Sierra Leone – Development Policy Credit, Credit from the Crisis Response Window (CRW) and Development Policy Grant from CRW – First Productivity and Transparency Support Credit 2. The Executive Directors recorded their approval on June 30, 2017 of the development policy credit in the amount of SDR 16.1 million (US$22 million equivalent), credit from the CRW in the amount of SDR 8.8 million (US$12 million equivalent), and development policy grant from CRW in the amount of SDR 5.9 million (US$8 million equivalent) to Sierra Leone for the First Productivity and Transparency Support Credit on the terms and conditions set out in the President’s Memorandum (IDA/R2017 -0218, dated June 9, 2017). Tanzania – Scale-Up Facility Credit – Dar es Salaam Maritime Gateway Project 3. The Executive Directors recorded their approval on June 30, 2017 of the scale-up facility credit in the amount of US$345 million to Tanzania for the Dar es Salaam Maritime Gateway Project on the terms and conditions set out in the President’s Memorandum (IDA/R2017-0230, dated June 13, 2017). Ms. Mathiasen wished to be recorded as abstaining. China – Loan – Three Gorges Modern Logistics Center Infrastructure Project 4. The Executive Directors recorded their approval on June 30, 2017 of the loan in the amount of US$200 million to China for the Three Gorges Modern Logistics Center Infrastructure Project on the terms and conditions set out in the President’s Memorandum (R2017-0146, dated June 13, 2017). Ms. Mathiasen wished to be recorded as abstaining. World Bank Annual Report 2017 – Draft 5. The Executive Directors recorded their approval on June 30, 2017 of the draft report entitled “World Bank Annual Report 2017� (R2017-0165[IDA/R2017-0245], dated June 21, 2017). ***************************************************************************** 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. THE BOARD OF DIRECTORS OF IFC IFC Annual Report 2017 – Draft 6. The Board of Directors recorded their approval of the draft report entitled “IFC Annual Report 2017� (IFC/R2017-0196, dated June 21, 2017). *********************************************************************************** THE BOARD OF DIRECTORS OF MIGA MIGA Annual Report 2017 – Draft 7. The Board of Directors recorded their approval of the draft report entitled “MIGA Annual Report 2017� (MIGA/R2017-0057, dated June 21, 2017). ************************************************************************************ THE EXECUTIVE DIRECTORS OF THE BANK AND IDA, THE BOARD OF DIRECTORS OF IFC, AND THE BOARD OF DIRECTORS OF MIGA Minutes of Previous Meeting 8. The Executive Directors of the Bank and IDA and the Board of Directors of MIGA recorded their approval on June 30, 2017 of the minutes of the meeting held on June 22, 2017 and the record of approval and authorizations between June 21, 2017 and June 22, 2017 (M2017-0028[IDA/M2017-0027, IFC/M2017-0026, MIGA/M2017-0022]. dated June 26, 2017). 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.