AUDIT COMMITTEE

FROM: The Secretary, Audit Committee

                          Minutes of Meeting held on Friday, March 30, 2018
                                   at 10:06 a.m. in the Board Room

Present

Committee
Ms. Kunene (Chair)
Mr. Alkhudairy
Ms. Aparna
Mr. Catzaras (Alternate)
Mr. Godts
Mr. Jimenez
Mr. Kachur (Alternate)
Ms. Wang (Temporary Alternate)

Other Executive Directors and Alternates
Messrs./Mmes. Almutairi, Alvarez, Carrigan, Cascino, Cowie, Dravniece, Engozogo Mba, Gruber,
Happe, Ko, Mills, Mufarrij, Nili, Panov, Peng, Schoenleitner, Senic, Tantitemit, Tazaki, Torero,
Upadhyay and White

Officers and Staff
Messrs./Mmes. Assalini, Binitie, Choo, Cieslik, Corrochano, Fakhoury, Frazier, Gandolfo, Gouled,
Himmo, Hupez, Jourdanet, Lawley, Myers, Oteh, Prouvost, Sandenburgh, Schwartz, Shyam-Sunder,
Sundberg, Thomas, Williams and Zelenko. Jarik (Committee Secretary)


The World Bank Quarterly Business and Risk Review - Quarter 2 FY18 (Part B)

1.     The Committee discussed the documents The World Bank Quarterly Business and Risk Review -
Quarter 2 FY18 (Part B) (SecM2018-0078[IDA/SecM2018-0054, IFC/SecM2018-0031,
MIGA/SecM2018-0033]), and The World Bank Quarterly Business and Risk Review: World Bank Group
Overview of Financial Performance, Operational Deliverables, and Staffing - FY18 Q2 (“The Chapeau�)
(SecM2018-0092[IDA/SecM2018-0060, IFC/SecM2018-0036, MIGA/SecM2018-0038]). A report from
the Committee to the Board was prepared.

IFC Quarterly Portfolio and Risk Report - FY18Q2

2.    The Committee discussed the document entitled IFC Quarterly Portfolio and Risk Report -
FY18Q2 (AC2018-0011). A report from the Committee to the Board was prepared.

MIGA - FY18H1 Review of Guarantee Portfolio, Risk Management, Capital Adequacy and Limits

3.     The Committee discussed the document entitled MIGA - FY18H1 Review of Guarantee Portfolio,
Risk Management, Capital Adequacy and Limits (AC2018-0012). A report from the Committee to the
Board was prepared.

Date of Next Meeting

4.        The Committee was scheduled to meet jointly with the Budget Committee on April 4, 2018.

Adjournment

5.        The meeting adjourned at 1:54 p.m.
                              The following item has been endorsed
                     by the Audit Committee on an Absence of Objection Basis
                                      on February 26, 2018


Fee Arrangements for Cost Recovery Related to the IDA18 IFC-MIGA Private Sector Window
(Revision)

1.     The Committee recorded its endorsement on February 26, 2018 of the document entitled Fee
Arrangements for Cost Recovery Related to the IDA18 IFC-MIGA Private Sector Window (Revision)
(AC2018-0005/2).