OFFICIAL USE ONLY M2001-0051/1 IDA/M2001-0051/1 IFC/M2001-0029/1 MIGA/M200 1-0004/1 August 31,2001 For meeting of 6,2001 Board: Thursday, September FROM: The Acting Secretary Minutes of Joint Meeting of the Executive Directorsof the Bank andIDA and the Boards of Directors of IFC andMIGA, held in the BoardRoom on Tuesday, July 31,2001, at 10:03 a.m. Revised (in response to comments receivedfrom Mr.Alyahya, paragraphs 2 and 11 have been revised) 1. There were present: CHAIRMAN: Sven Sandstrom, Managing Director EXECUTIVE DIRECTORS AND ALTERNATES ACTING AS EXECUTIVE DIRECTORS: M. Abdul Aziz E. Miagkov (Alternate) G. Abraham E. Moulin (Alternate) Y . Alyahya J. Piercy A. Attiga (Temporary Alternate) M. Pineda E. Biskup (Alternate) J. Ruiz H. Chen(Alternate) A. Sadoudi D-S. Chin (Temporary Alternate) B.P. Singh H. Cordeiro (Alternate) M.Soto-Plater0 Gomes P. (Alternate) P. Stek Y. Harada R. Stevenson (Alternate) J., Matesova (Temporary Alternate) A.Ungulaitiene(TemporaryAlternate) M.Meyer S. Weber (Alternate) ALTERNATE NOT ACTINGAS EXECUTIVE DIRECTOR: N.D. Hung the performance of their official duties. Its contents This document hasa restricted distribution and may be used by recipients only in may not otherwise be disclosed without World Bank Group authorization. OFFICERS AND STAFF PARTICIPATING: R. Picciotto, Director General, DGO H. Garnett, AFT 12 P. Ofosu-Amaah, Deputy General Counsel M. Gautam, OEDCM J. Salop, Vice President, OPC M. Marlett, AFCKE C. Madavo, Vice President, AFR J. Redwood, LCSES A. Shakow, Acting Secretary D. Reinermann, AFCNG J. Underwood, Director, OPCRC 0. Ruhl, AFTPS E. Mbi, Director, AFC09 S. Samen, AFTM3 G. Lamb, Director, FRM J. Wu, AFTEG E. May, Director, LCSPR D. Ordoobadi, IMF M. Alexander, Director, LCC7C R. Powell, IMF M. Carroll, LCSER D. Mattheisen, Corporate Secretariat V. Elliott , OEDCM 2000-2001 Annual Report on Operations Evaluation 2. The Executive Directors noted the report entitled “2000-2001 Annual Report on Operations Evaluation (AROE)” (R200 1-0130, dated July 3,200 1; 0130/1). It was agreedto make this AROE publicly available together with the Management Response, after suitable editorial revisions (R2001-0130/2). Credit toNigeria - Transmission Development Project 3. The Executive Directors consideredthe President’s MemorandumandRecommendation July 9,200 1) and approved (IDA/R200 1-0 127, dated the credit to the Federal Republic of Nigeria for a Transmission Development Project in the amount of SDR 78.6million (US$100 million equivalent) on the paymentterms and other terms and conditionsset out in the President’s Memorandum. Democratic Republic of Congo - Transitional Support Strategy 4.The Executive Directors discussedtheTransitionalSupportStrategyfortheDemocratic Republic of Congo (IDA/R2001-0123, dated July 10,2001). The Chairman’s Concluding Remarks were distributed as IDA/SecM2001-0511,dated August1, 2001). of Congo - Emergency Early Recovery Project Grant to the Democratic Republic 5. The Executive Directors considered the President’s MemorandumandRecommendation (IDA/R200 1-0 124, datedJuly 11,2001; 0 124/2) and approved the grantto the Democratic Republic of the Congo for an Emergency Early Recovery Project in the amount of SDR 40 (US$50 million million equivalent) on the terms and conditions set out in the President’s Memorandum. Credit to the Republic of Congo - Post-Conflict Economic Rehabilitation Credit 6. The Executive Directors considered the President’S Report and Recommendation (IDA/R2001-0128, datedJuly 10,200 1) and approved the Post-Conflict Economic Rehabilitation Credit to the Republic of Congo in the amount of SDR 30.0 million (US$37.5 million equivalent) on the payment terms and other terms and conditionsset out in the President’S Report. 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. Credit to the Republicof Congo - Emergency Demobilization and Reintegration Project 7. The Executive Directors consideredthePresident’sMemorandumandRecommendation (IDA/R2001-0131dated July 12,2001) and approved the credit to the Republic of Congo for an Emergency Demobilization and Reintegration Project in the amount of SDR 4.0 million (US$5.0 million equivalent) on the payment terms andother terms and conditions set out in thePresident’s Memorandum. Credit to Kenya - Public Sector Management Technical Assistance Project 8. The Executive Directors consideredthe President’s MemorandumandRecommendation (IDA/R2001-0130, dated July12,2001) and approved the credit to the Republic of Kenya for a Public Sector Management Technical Assistance Projectin the amountof SDR 11.9 million (US$15.0 million President’s Memorandum. equivalent) on the paymentterms and other terms and conditions set out in the Loan to Uruguay - Foot and Mouth Disease Emergency Recovery Project 9. The Executive Directors consideredthePresident’sMemorandumandRecommendation (R200 1-0 138, dated July 12,2001) and approved the loan to the Oriental Republic of Uruguay for a Foot and MouthDisease Emergency RecoveryProject in the amount of US$18.5 million on the payment terms and other terms and conditions set out in the President’s Memorandum. Loan to Panama - Public Policy Reform Technical Assistance Project 10. The Executive Directors approved the loan to the Republic of Panama for a Public Policy Reform on the payment terms and other terms Technical Assistance Project in the amount of US$10.5 million and conditions set out in the President’s Memorandum (R2001-0139, dated July 12,2001). Executive Directors’ Work Program (July 2001-June 2002) 11. The Executive Directors of the Bank and IDA, and the Boards of Directors of IFC and MIGA noted the Overview and approved the Work Program set as out in the paperentitled “Executive Directors’ Work Program (July 2001-June 2002)” (R200l-0134[IDA/R2001-0125; IFC/R2001-0157;MIGA/R200 1-0043], dated July9,2001). Executive Directors agreed to postpone a decision to make the Overview section of the report publicly availableon the World Bank’s external website until after the consideration of the proposed World Bank disclosurereview. for IDA-Only Countries Progress Review: The Debt Reduction Facility 12. The Executive Directors recorded their approval on July 25,2001 of the recommendation contained in paragraph 11 of the President’s Memorandum entitled “The Debt Reduction Facilityfor IDA-Only Countries” (IDA/R2001-0133, dated July16,2001). Provisioning Requirements forFY01 13. The Executive Directors recorded their approval on July 25,2001of the recommendation contained inparagraphs 2 and4 of the President’s Memorandum entitled “Provisioning Requirements for FY01” (R2001-0140, dated July 13,2001). in the performance of their official duties. Its contents This document has a restricted distribution and may be used by recipients only may not otherwise be disclosed without World Bank Group authorization. Date of Next Meeting 14. It was agreed to hold a meeting of the Executive Directors of the Bank and IDA on Thursday, August 2,2001. Adjournment 15. The meeting recessed at 1:20 p.m., reconvened a 2:30 p.m. and adjourned at 4:23 p.m. Distribution: Executive Directors and Alternates President Bank Group Senior Management Vice Presidents, Bank,IFC and MIGA Directors and Department Heads, Bank,IFC and MIGA This document has a restricted distribution and maybe used by recipients onlyin the performanceof their official duties. Its contents may not otherwisebe disclosed without World Bank Group authorization.