Minutes of a Meeting of the Board of Directors of IFC held in the Board Room on September 29, 2022, at 10:03 a.m. 1. There were present: CHAIR: M. Diop, IFC Managing Director and Executive Vice President DIRECTORS, ALTERNATES, AND TEMPORARY ALTERNATES ACTING AS DIRECTORS: M. Ahmad I. Menendez A. Bello R. Montgomery C. Coelho T. Nyamadzabo K. Davidse N. Putscher H. Demircan K. Rechico D. Favre C. Richard E. Gomes S. Saeed M. Kang H. Sahnoun R. Khullar H. Seifeldin L. Lind T. Tsuda A. Manuel T. Zhang R. Marshavin A. McGee M. Medina OFFICERS AND STAFF PARTICIPATING: B. Zia, Acting Interim Vice President and General Council M. Tembon, Corporate Secretary S. Telma, Director M. Van Nieuwkoop, Global Director A. Gekis, Director A. Williams, Director P. Gopalan, Manager M. Nebe, Sector Manager L. Tran, Principal Operations Officer O. Nagayets, Senior Industry Specialist 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. World Region - Investment in Global Food Security Platform 2. The Board of Directors of IFC discussed a President’s Memorandum and Report (IFC/R2022-0283;/1, dated September 16, 2022, and October 7, 2022) and approved creation of the Global Food Security Platform in the World Region and authorized an investment of up to US$6 billion in total comprising US$3 billion for IFC’s own account and up to US$3 billion for the account of participants. An additional amount of up to US$1 billion in blended finance from existing facilities such as the Global Agriculture and Food Security Program, the International Development Association’s Private Sector Windows, and new multilateral and bilateral sources will be needed to support the Global Food Security Platform. IFC Directors adopted Resolution No. IFC2022-0022. Adjournment 3. The meeting adjourned at 12:10 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 September 28, 2022, and September 29, 2022 THE EXECUTIVE DIRECTORS OF THE BANK AND IDA Republic of Cameroon - Credit - Local Governance and Resilient Communities Project 1. The Executive Directors approved on September 28, 2022 a credit in the amount of EUR 288.5 million (US$300 million equivalent) to the Republic of Cameroon for a Local Governance and Resilient Communities Project on the terms and conditions set out in the President’s Memorandum (IDA/R2022-0364, dated September 9, 2022). Ms. Chang wished to be recorded as objecting. Republic of Liberia - Additional Credit - Liberia Institutional Foundations to Improve Services for Health Project 2. The Executive Directors approved on September 28, 2022 an additional credit in the amount of US$20 million to Republic of Liberia for the Liberia Institutional Foundations to Improve Service for Health Project on the terms and conditions set out in the President’s Memorandum (IDA/R2022-0363;/2, dated September 9, 2022, and September 20, 2022, respectively). Republic of Benin - Credit - Building Resilient and Inclusive Cities - Program-for-Results 3. The Executive Directors approved on September 29, 2022 a credit to the Republic of Benin in the amount of EUR195.3 million (US$200 million equivalent) from the IDA Scale-up Window to Benin for a Building Resilient and Inclusive Cities Program-for-Results on the terms and conditions set out in the President’s Memorandum (IDA/R2022-0365, dated September 12, 2022). Republic of Mozambique - Additional Grant - Sustainable Rural Economy Program as Phase 1 of the Multiphase Programmatic Approach 4. The Executive Directors approved on September 29, 2022 an additional grant in the amount of SDR 35.5 million (US$50 million equivalent) from the IDA Crisis Response Window to the Republic of Mozambique for the Sustainable Rural Economy Program as Phase 1 of the Multiphase Programmatic Approach on the terms and conditions set out in the President’s Memorandum (IDA/R2022-0373, dated September 20, 2022). Federal Republic of Nigeria - Credit - State Action on Business Enabling Reforms (SABER) Program - Program-for-Results 5. The Executive Directors approved on September 29, 2022 a credit in the amount of SDR 566.7 million (US$750 million equivalent) to the Federal Republic of Nigeria for a State Action on Business Enabling Reforms (SABER) Program - Program-for-Results on the terms and conditions set out in the President’s Memorandum (IDA/R2022-0366, dated September 12, 2022). 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. Republic of Panama - Loan - Support to Panama PPP Program Development for Recovery Project 6. The Executive Directors approved on September 29, 2022 a loan in the amount of US$7.5 million to the Republic of Panama for a Support to Panama Public-Private Partnerships (PPP) Program Development for Recovery Project on the terms and conditions set out in the President’s Memorandum (R2022-0205, dated September 12, 2022). Arab Republic of Egypt - Loan - Cairo Alexandria Trade Logistics Development Project 7. The Executive Directors approved on September 29, 2022 a loan in the amount of US$400 million to the Arab Republic of Egypt for a Cairo Alexandria Trade Logistics Development Project on the terms and conditions set out in the President’s Memorandum (R2022-0211, dated September 12, 2022). Hashemite Kingdom of Jordan - Loan - Agriculture Resilience, Value Chain Development and Innovation (ARDI) Program-for-Results 8. The Executive Directors approved on September 29, 2022 financing totaling US$125 million to the Hashemite Kingdom of Jordan for an Agriculture Resilience, Value Chain Development and Innovation (ARDI) Program-for-Results on the terms and conditions set out in the President’s Memorandum (R2022-0207, dated September 12, 2022). The financing comprises a loan in the amount of US$95.6 and a concessional portion of the loan in the amount of US$23.9 million from the Global Concessional Financing Facility. The program is co- financed through a Partnership for Improving Prospects Grant in the amount of US$5.5 million, bringing the total financing for the program to US$125 million. ****************************************************************************** THE BOARD OF DIRECTORS OF IFC World Region - Investment in Citibank N.A. for the GTLP Citi V Increment Project Investment under the IFC Fast-Track COVID-19 Facility 9. On September 28, 2022, the Board of Directors authorized management to proceed with an investment in World Region - Citibank N.A. for the GTLP Citi V Increment Project Investment under the IFC Fast-Track COVID-19 Facility (IFC/R2022-0286, dated September 22, 2022) comprising up to US$400 million funded risk-participation on IFC’s own account in a portfolio of eligible trade transactions originated by Citibank N.A.. IFC will participate in up to 50 percent of the eligible portfolio. Türkiye - Investment in Yapi Kredi Finansal Kiralama Anonim Ortaklığı for the YKL Climate Project 10. On September 29, 2022, the Board of Directors authorized management to proceed with an investment in Türkiye - Yapi Kredi Finansal Kiralama Anonim Ortaklığı for the YKL Climate Project (IFC/R2022-0284, dated September 19, 2022) consisting a senior unsecured loan for an aggregate amount of up to $120 million comprising: (i) an A loan of up to $80 million; (ii) a B2 loan of up to $22.24 million for the account of participants under the Managed Co-Lending 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. Portfolio Program (MCPP); and (iii) a trust loan of up to $17.76 million from IFC acting in its capacity as the implementing entity for the MCPP. ****************************************************************************** THE EXECUTIVE DIRECTORS OF THE IBRD AND IDA AND THE BOARDS OF DIRECTORS OF IFC AND MIGA Poland - Performance and Learning Review of the Country Partnership Framework 11. The Executive Directors of the IBRD and IDA and the Boards of Directors of IFC and MIGA noted on September 29, 2022 the Performance and Learning Review of the Country Partnership Framework for Poland for the period FY19-FY24 (R2022-0201[IFC/R2022-0274, MIGA/R2022-0111], dated September 8, 2022). 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.