FROM: Vice President & Corporate Secretary

Minutes of a Meeting of the Executive Directors of the Bank and IDA
and the Boards of Directors of IFC and MIGA
held in the Board Room on October 29, 2019 at 10:03 a.m.

1. There were present:
CHAIR:

A. van Trotsenburg, Managing Director, Operations

EXECUTIVE DIRECTORS, ALTERNATES, AND TEMPORARY ALTERNATES
ACTING AS EXECUTIVE DIRECTORS:

E. Agustin R. Montgomery
A. AlMutlak J. Nathan
G. Bougara T. Nyamadzabo
E. Comolet Parjiono
K. Davidse P. Pedroso
R. Eletreby G. Schoenleitner
A. Fernandez I. Shervarli
W. Gruber L. Shuaibu
D. Harris R. Singh
H. Ikarashi M. Sotelino
F. Jimenez Y. Wang
A. Klemola J. Zattler
A. Kouagou

OFFICERS AND STAFF PARTICIPATING:

S. Okoro, Senior Vice President and General Counsel
Y. Tsikata, Vice President and Corporate Secretary
H. Ghanem, Vice President, Africa Region
*N. Belete, Country Director
F. Fall, Liaison Officer
I. Velev, Country Program Coordinator
M. Nebe, Sector Manager, MIGA
D. Reyes, Senior Economist

*via videoconference

2. The Executive Directors discussed the joint IBRD/IFC/MIGA Country Partnership
Framework for Cabo Verde for the period FY20-FY25 (R2019-0230[IFC/R2019-0295,
MIGA/R2019-0121] dated October 4, 2019).

Adjournment

3. The meeting adjourned 11:42 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.
The following item(s) have been approved on an Absence-of-Objection Basis
or have been authorized to proceed on a streamlined basis
between October 25-29, 2019

THE EXECUTIVE DIRECTORS OF THE BANK AND IDA

Proposal to Expand the Offering of Commodity Hedging Products to IDA Countries-Board

1. The Executive Directors approved on October 25, 2019 the recommendation contained in
paragraph 29 of the President’s Memorandum entitled “Proposal to Expand the Offering of
Commodity Hedging Products to IDA Countries-Board [IDA/R2019-0289; /1, dated September
26, 2019 and October 15, 2019, respectively).

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THE BOARD OF DIRECTORS OF IFC

Pakistan – Investment in Gul Ahmed Electric Limited, Metro Wind Power Limited, Act 2
Wind (Private) Limited, Artistic Wind Power (Private) Limited, Din Energy Limited and
Tricom Wind Power (Private) Limited for the Super Six Program

2. The Board of Directors recorded their approval on October 25, 2019 an investment in
Pakistan - Gul Ahmed Electric Limited, Metro Wind Power Limited, Act 2 Wind (Private)
Limited, Artistic Wind Power (Private) Limited, Din Energy Limited and Tricom Wind Power
(Private) Limited for the Super Six Program (IFC/R2019-0302, dated October 15, 2019) in the
form of (i) an “A” loan for IFC’s own account of up to US$86 million in aggregate; and (ii) a
loan for up to US$68 million in aggregate for the account of participants under the Managed Co-
Lending Portfolio Program (MCPP).

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THE EXECUTIVE DIRECTORS OF THE BANK AND IDA, THE BOARD OF
DIRECTORS OF IFC AND THE BOARD OF DIRECTORS OF MIGA

Appointment to Board Standing Committees – Human Resources Committee (Nomination
of Successor to Mr. Haruna Mohammed)

3. The Executive Directors recorded their approval on October 25, 2019 of the appointment
of Ms. Larai Hajara Shuaibu on the Human Resources Committee, that is, until October 31,
2020. (R2019-0243[IDA/R2019-0300, IFC/R2019-0306, MIGA/R2019-0125]).

Official Travel of Executive Directors, Alternate Executive Directors, Senior Advisors and
Advisors to Executive Directors as of October 24, 2019

4. The Executive Directors approved on October 28, 2019 the “Official Travel of Executive
Directors, Alternate Executive Directors, Senior Advisors and Advisors to Executive Directors
as of October 24, 2019” (R2019-0246[IDA/R2019-0302, IFC/R2019-0311, MIGA/R2019-0126],
dated October 11, 2019).