72816     FROM: Vice President and Corporate Secretary     Minutes of Meeting of the Board of Directors of IFC,   held in the Board Room on Thursday, August 9, 2012, at 10:04 a.m.     1. There were present: CHAIR:   R.-R. Kaldany, Acting Executive Vice President, IFC   EXECUTIVE DIRECTORS AND ALTERNATES ACTING AS EXECUTIVE DIRECTORS:   I. Alturki (Alternate) S. Lutfi (Temporary Alternate)   G. Alzetta (Alternate) H. Manao G. Balcytyte (Alternate) R. Mokate   S. Bangura (Temporary Alternate) S. Moorehead J.J. Bravo (Alternate) N. Mota Pinto (Alternate)   I.-K. Cho (Alternate) S. Nanu (Alternate) K. Dalrymple (Alternate) K. Panov (Temporary Alternate)   V. Dhanpaul (Alternate) W. Rissmann (Alternate) P. Espinola (Temporary Alternate) I. Solomon   A. Fayolle Y. Takamura (Alternate) J. Frieden A. Thakur (Temporary Alternate)   M.S.Kayad (Alternate) G. Wang (Temporary Alternate) A. Lamrani (Temporary Alternate)   ALTERNATE NOT ACTING AS EXECUTIVE DIRECTOR:   S. Aviel   OFFICERS AND STAFF PARTICIPATING:     S. Suleymanov, Acting Corporate Secretary P. Bravery, CFAFR R. Robbins, Vice President and D. Castano Huertas, CLACO General Counsel, CLVVP C. Franzetti, CLEAD S. Khairi, Vice President, CRFVP A. Millan Drews, CN2TM B. Lauwers, Director, CFADR B. Geiser, Corporate Secretariat B. Sheahan, Director, CN2DR 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-   Colombia - Investment in Energia Integral Andina (EIA) S.A. Submarine Cable   2. The Board of Directors considered the President's Memorandum and a Report on an investment in   Energia Integral Andina (EIA) S.A. Submarine Cable in Colombia (IFC/R2012-0267; /1, dated July 27 and August 6, 2012, respectively) and adopted the following resolution:   RESOLUTION NO. IFC 2012-0051   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.   Ms. Garcia wished to be recorded as abstaining.   Report of the Audit Committee to the Board of Directors - IFC Financial Statements for Year   Ended June 30, 2012   3. The Board of Directors considered the "Report of the Audit Committee to the Board of Directors - IFC Financial Statements for Year Ended June 30, 2012" (IFC/R2012-0273/1, dated August 6, 2012),   approved the consolidated financial statements attached thereto, and adopted the following resolution:   Resolution No. IFC 2012-0052   FINANCIAL STATEMENTS AS OF JUNE 30, 2012   RESOLVED that the consolidated financial statements of the International Finance Corporation, as of June 30, 2012, be approved and   be submitted, upon delivery of the independent auditors' reports to the Board of Governors to be considered at its next annual meeting.     4. The Board of Directors recorded its authorization for Management to proceed with the following investments under the Streamlined Procedure: (a) Papua New Guinea - an investment in Kongo Coffee Limited (IFC/R2012-0243, dated June 15, 2012) in the form of an unfunded (single asset) risk sharing facility/partial credit guarantee to the Bank of South Pacific which will directly fund Kongo Coffee Limited's working capital needs for up to PGK 6 million (US$3 million equivalent), authorized on June 27, 2012. (b) Nigeria - an investment in Global Trade—Structured Trade and Commodity Finance (GTST) - JOFStanbic (IFC/R2012-0260, dated July 16, 2012) in the form of a partial credit guarantee of up to US$20 million, authorized on July 26, 2012. 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-   (c) China - an investment in Aqualyng Holding AS (IFC/R2012-0262, dated July 16, 2012) in the   form of a loan with warrants of up to US$12 million, authorized on July 26, 2012. Mr. Solomon (via email dated July 25, 2012) wished to be recorded as abstaining.   (d) Mexico - an investment in Urbi Desarrollos Urbanos, S.A.B. de C.V. (IFC/R2012-0263, dated   July 19, 2012) in the form of (i) an "A" loan of up to US$50 million and a "B" loan of up to US$35 million, and (ii) a loan of up to US$20 million loan from IFC in its capacity as   implementing agency for the Canada Climate Change Program, authorized on July 31, 2012.   (e) Russian Federation - an investment in Asian-Pacific Bank Open Joint-Stock Company (OJSC) (IFC/R2012-0264, dated July 25, 2012) in the form of an "A" loan of up to (US$30 million   equivalent) and a "B" loan of up to US$30 million, authorized on August 6, 2012.   Minutes of Previous Meeting   5. The Board of Directors recorded its approval on August 2, 2012 of the Minutes of the meeting held on June 21, 2012 (IFC/M2012-0046).   IFC 2012 Annual Report - Final Text   6. The Board of Directors recorded its approval on August 6, 2012 of the final text of IFC's Annual   Report for fiscal year 2012 (IFC/SecM2012-0005/2, dated July 26, 2012).   Adjournment   7. The meeting adjourned at 10:29 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.