Minutes of a Meeting of the Executive Directors of IBRD and IDA and the Boards of Directors of IFC and MIGA held in the Board Room on February 29, 2024, at 12:19 p.m. 1. There were present: CHAIR: A. Bjerde, Managing Director, Operations EXECUTIVE DIRECTORS, ALTERNATES, AND TEMPORARY ALTERNATES ACTING AS EXECUTIVE DIRECTORS: Z. Ahmed R. Kumar L. Albisson M. Laraburu A. Almulla D. Medzhidova A. Bedjaoui I. Park S. Chelala M. Quiros Romero M. Coelho S. Saeed Dalyono A. Shariff D. Favre C. Sinckler V. Gnanendran H. Tavares T. Ho F. Vodita J. Jonasson T. Yamakawa M. Krake W. Yang M. Kratochvil OFFICERS AND STAFF PARTICIPATING: E. Marmolo, Acting Vice President and Corporate Secretary S. Musiime, Deputy General Counsel, Operations G. Tanyi, Chief Counsel, IFC V. Kwakwa, Regional Vice President E. Mountfield, Vice President A. Dar, Director, Strategy and Operations C.-O. Sylla, Director M. Gill, Director M. Nebe, Acting Director, MIGA P. Anos Casero, Director G. Andronova Vincelette, Director R. Saum, Director H. Zaman, Regional Director K. Svensson, Country Manager L. Vecvagare, Senior Adviser to the Vice President 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. Farewell to Alternate Executive Director 2. The Chair made the customary presentation to Mr. Florin Vodita, Alternate Executive Director (Romania), on the expiration of his terms of service and tendered him good wishes for the future. The Executive Directors recorded their appreciation. Somalia - Country Partnership Framework 3. The Executive Directors discussed the joint IDA/IFC/MIGA Country Partnership Framework for Somalia for the period FY24-FY28 (IDA/R2024-0021[IFC/R2024-0021, MIGA/R2024-0011], dated February 6, 2024). Adjournment 4. The meeting paused at 12:30 p.m., reconvened at 2:10 p.m. and adjourned at 3:12 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 between February 28, 2024 and February 29, 2024 THE EXECUTIVE DIRECTORS OF THE BANK AND IDA Mauritania – Credits - Fiscal Management and Resilience Development Policy Financing with a Catastrophe Deferred Drawdown Option 1. The Executive Directors approved on February 29, 2024 a credit in the amount of SDR 18.1 million (US$24 million equivalent) in Shorter-Maturity loans (SML) and a credit with Catastrophe Deferred Drawdown Option (Cat DDO) in the amount of SDR 18.1 million (US$24.0 million equivalent) to Mauritania for a Fiscal Management and Resilience Development Policy Financing with a Catastrophe Deferred Drawdown Option on the terms and conditions set out in the President’s Memorandum (IDA/R2024-0017, dated February 7, 2024). Mozambique – Grant - District and Community Health Services Revitalization Operation 2. The Executive Directors approved on February 29, 2024 a grant in the amount of SDR 74.6 million (US$100 million equivalent) to Mozambique for a District and Community Health Services Revitalization Operation on the terms and conditions set out in the President’s Memorandum (IDA/R2024-0025, dated February 13, 2024). Nepal – Credits - Provincial and Local Roads Improvement Program – Phase 1 3. The Executive Directors approved on February 29, 2024 a credit in the amount of SDR 17.9 million (US$24 million equivalent) and a credit in the amount of SDR 56.7 million (US$76 million equivalent) for a total of SDR 74.6 million (US$100 million equivalent) to Nepal for a Provincial and Local Roads Improvement Program – Phase 1 on the terms and conditions set out in the President’s Memorandum (IDA/R2024-0026, dated February 9, 2024). Nepal – Credit - Second Fiscal Policy for Growth, Recovery and Resilience Development Policy Credit 4. The Executive Directors approved on February 29, 2024 a credit in the amount of SDR 74.6 million (US$100 million equivalent) to Nepal for a Second Fiscal Policy for Growth, Recovery and Resilience Development Policy Credit on the terms and conditions set out in the President’s Memorandum (IDA/R2024-0014, dated February 7, 2024). ****************************************************************************** THE BOARD OF DIRECTORS OF IFC Southern Europe Region - Investment in SG Finance & Treasury Limited for the EUR Food Retail Project 5. The Board of Directors approved on February 29, 2024 an investment in Southern Europe Region - SG Finance & Treasury Limited for the EUR Food Retail Project (IFC/R2024-0032, 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. dated February 16, 2024) consisting of a revolving A Loan of up to US$250 million equivalent in EUR with annual recommitments. Messrs. Gorordo and Marshavin wished to be recorded as abstaining. ****************************************************************************** THE EXECUTIVE DIRECTORS OF THE BANK AND IDA AND THE BOARDS OF DIRECTORS OF IFC AND MIGA Official Travel of Executive Directors, Alternate Executive Directors, Senior Advisors and Advisors to Executive Directors as of February 22, 2024 6. The Executive Directors of the Bank and IDA and the Boards of Directors of IFC and MIGA approved on February 28, 2024 the document entitled “Official Travel of Executive Directors, Alternate Executive Directors, Senior Advisors and Advisors to Executive Directors as of February 22, 2024” (R2024-0040,[IDA/R2024-0040, IFC/R2024-0038, MIGA/R2024- 0021] dated February 26, 2024). 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.