FROM:        Vice President and Corporate Secretary
                                                                                            66742
 

 
                                Minutes of Meeting of the Board of Directors of IFC,
                       held in the Board Room onThursday, January 19, 2012, at 10:04 a.m.

 

 
    1.      There were present:
                                                                CHAIR:

                                             R.-R. Kaldany, Vice President, CGIVP

  EXECUTIVE DIRECTORS AND ALTERNATES ACTING AS EXECUTIVE DIRECTORS:

  A. Alkaffas (Alternate)                                       H. Manao
  I. Alturki (Alternate)                                        S.    Mirjalili (Temporary Alternate)
  I.-K. Cho (Alternate)                                         R.    Mokate
  V. Dhanpaul (Alternate)                                       S.    Moorehead
  P. Espinola (Temporary Alternate)                             M.-L. Morin
  E. Gimenez (Temporary Alternate)                              K. Panov (Temporary Alternate)
  J. Haarlov (Alternate)                                        M.N. Prasad
  N. Hayashi                                                    W. Rissmann (Alternate)
  K. Huber                                                      I.    Solomon
  D. Kalyalya (Alternate)                                       W. Szczuka (Alternate)
  M.S.Kayad (Alternate)                                         A. Touret-Blondy (Alternate)
  L. Laraia (Temporary Alternate)                               R.    Treffers
  W. Liu (Temporary Alternate)

  ALTERNATES NOT ACTING AS EXECUTIVE DIRECTORS:

  K.     Aminul Islam                                           M.      Muhtar

  OFFICERS AND STAFF PARTICIPATING:

  A.     Peuker, Acting Corporate Secretary                     M.     Huggins, CLEFG*
  R.     Robbins, Vice President and                            T.     Lozansky, CEATA
         General Counsel, CLVVP                                 K.     Mohindra, CICTI*
    K.   Finkelston, Vice President, CAPVP                      G.     Myers, CLEFG
    S.   Stoiljkovic, Vice President, CBAVP                     V.     Raju, CFGPE
    S.   Devieux, Director, CF1DR                               R.     Krech, Corporate Secretariat
    S.   Pimenta, Director, CEADR

         *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-


  Renewal and Consolidation of IFC Advisory Services in East Asia and Pacific including an IFC
  Contribution
 
  2.      The Board of Directors considered the President's Memorandum and a Report entitled "Proposed
  Renewal and Consolidation of IFC Advisory Services in East Asia and Pacific including a Proposed IFC
  Contribution" (IFC/R2012-0001; /1, dated January 5 and January 23, 2012, respectively) and adopted the
  following resolution:

                                             RESOLUTION NO. IFC 2012-0006
            RESOLVED:
 
            (A)     THAT the Corporation be authorized to proceed with the Recommendations
                    contained in paragraphs 5.1 (as revised during the discussion), 5.2 and 5.3 of the
                    Report substantially on the terms therein set forth; and
 
            (B)     THAT the President, Executive Vice President, a Vice President, a Department
                    Director, the General Counsel or a Deputy General Counsel, or any staff member
                    of the Corporation authorized by any one of them, enter in the name and on behalf
                    of the Corporation, into an agreement or agreements providing for such
                    transactions and containing such other terms and conditions as he or she, by the
                    execution thereof, shall approve.

  Mr. Solomon wished to be recorded as abstaining.

  India - Investment in Ambit Pragma Fund II

  3.       The Board of Directors considered the President's Memorandum and a Report on an investment in
  Ambit Pragma Fund II in India (IFC/R2012-0005, dated January 5, 2012) and adopted the following
  resolution:

                                             RESOLUTION NO. IFC 2012-0007
            RESOLVED:
            (A)     THAT the Corporation be authorized to conclude the transactions outlined in
                    paragraph 7.1 of the Report substantially on the terms therein set forth; and
 
            (B)     THAT the President, Executive Vice President, a Vice President, a Department
                                     
                    Director, the General Counsel or a Deputy General Counsel, or any staff member
                    of the Corporation authorized by any one of them, enter in the name and on behalf
                    of the Corporation, into an agreement or agreements providing for such
                    transactions and containing such other terms and conditions as he or she, by the
                    execution thereof, shall approve.




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-


  4.      The Board of Directors recorded its authorization for Management to proceed with the following
  investment under the Streamlined Procedure:
 
      (a) Latin America Region - an investment in Belcorp Limited (IFC/R2011-0356, dated December 29,
          2011) in the form of an "A" loan of up to US$50 million and a "B" loan of up to US$80 million,
          authorized on January 11, 2012.
 
  Minutes of Previous Meeting
 
  5.      The Board of Directors recorded its approval on January 12, 2012 of the Minutes of the meeting
  held on December 15, 2011 (IFC/M2011-0063).

  Adjournment

  6.        The meeting adjourned at 11:07 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.