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International Finance Corporation (IFC) Board of Governors resolution ; no. 257 : Financial statements, accountant's report, administrative budget and designations of retained earnings (Inglês)

On October 12, 2012, the International Finance Corporation (IFC) Board of Governors adopted resolution number two hundred and fifty seven. It was resolved that: (a) the Board of Governors of the Corporation consider the Consolidated Financial Statements and Independent Auditors' Report included in the 2012 Annual Report and the Administrative Budget contained in the Report to the Board of Governors on IFC’s FY13 Business Plan and Budget (the "Report"), as fulfilling the requirements of Article IV, Section 11, of the Articles of Agreement and of Section 16 of the By-Laws of the Corporation; (b) the Corporation's FY12 Net Income of $1,328 million shall be transferred to undesignated retained earnings; (c) the Corporation's designation of $80 million of retained earnings for IFC's Funding Mechanism for Technical Assistance and Advisory Services in IFC's Fiscal Year 2013 First Quarter financial statements is hereby noted with approval; and (d) the Corporation's designation of $340 million of retained earnings in IFC's Fiscal Year 2013 financial statements for grants to the International Development Association for use by the Association in the form of grants in furtherance of the Corporation's purposes is hereby noted with approval.

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