54092 OFFICIAL USE ONLY M2010-0018 IDA/M2010-0018 IFC/M2010-0009 April 16, 2010 For meeting of Board: Tuesday, May 11, 2010 FROM: The Acting Corporate Secretary Minutes of Joint Meeting of the Executive Directors of the Bank and IDA, and the Board of Directors of IFC held in the Board Room on Tuesday, April 6, 2010, at 2:51 p.m. 1. There were present: CHAIRMAN: V. La Via, Chief Financial Officer EXECUTIVE DIRECTORS AND ALTERNATES ACTING AS EXECUTIVE DIRECTORS: K. Alkhudairy (Temporary Alternate) D.H. Kim (Alternate) I. Ampri (Alternate) G. Leost (Temporary Alternate) M. Ayesu (Temporary Alternate) N. Maddirala (Temporary Alternate) H. Beck (Temporary Alternate) T. McIntosh D. Cahalane (Temporary Alternate) A. Mehdi (Temporary Alternate) F. Castro y Ortiz (Temporary Alternate) T. Shikibu A. Di Carluccio (Temporary Alternate) M. Tan (Temporary Alternate) P. Espinola (Temporary Alternate) L. Taylor-Kale (Temporary Alternate) J. Haarlov (Alternate) J.C. Tchatchouang (Temporary Alternate) K. Huber R. Von Kleist (Alternate) S. Katash (Temporary Alternate) Y. Wang (Temporary Alternate) M. Khmaladze (Temporary Alternate) Z. Zavkiev (Temporary Alternate) ALTERNATES NOT ACTING AS EXECUTIVE DIRECTORS: H.A. Taha -2- M2010-0018 OFFICERS AND STAFF PARTICIPATING: IDA/M2010-0018 IFC/M2010-0009 C. Braga, Acting Corporate Secretary F. Douamba, CAFSC H. Gruss, Deputy General Counsel, LEGVP E. Gudmundsson, AFMSL O. Ezekwesili, Vice President, AFRVP K. Kubota, EASPR I. Diwan, Director, AFCW1* R. Spencer, EASVS V. Kwakwa, Director, EACVF* M. Miyazaki, IMF A. Nickesen, Director, EAPCO A. Palmason, IMF J. Roome, Director, EASSD A. Legrottaglie, Corporate Secretariat *Via Videoconference Development Policy Lending (Loan and Credit) to Vietnam ­ First Power Sector Reform Development Policy Operation 2. The Executive Directors considered the President's Memorandum and Recommendation (R2010-0051[IDA/R2010-0071]), dated March 15, 2010) and approved a Development Policy Loan and Credit to Vietnam for a First Power Sector Reform Development Policy Operation in the amounts of US$200 million and SDR 73 million (US$111.8 million equivalent), respectively, on the payment terms and other terms and conditions set out in the President's Memorandum. Sierra Leone ­ Country Assistance Strategy 3. The Executive Directors of the Bank and IDA and the Board of Directors of IFC discussed the joint Country Assistance Strategy for Sierra Leone for the period FY2010-2013 (IDA/R2010-0077 [IFC/R2010-0057]; /1-2 dated March 17, 2010). (The Chairman's Concluding Remarks were subsequently distributed as IDA/R2010-0077/3[IFC/R2010-0057/3], dated April 7, 2010.) Additional Financing Credit to Tanzania ­ Energy Development and Access Expansion Project 4. The Executive Directors approved the additional financing credit to Tanzania for an Energy Development and Access Expansion Project in the amount of SDR 16.1 million (US$25 million equivalent) on the payment terms and other terms and conditions set out in the President's Memorandum and Project Paper (IDA/R2010-0060; /1, dated March 12, 2010). Grant to Solomon Islands ­ Telecommunications and ICT Development Project 5. The Executive Directors approved the grant to the Solomon Islands for a Telecommunications and ICT Development Project in the amount of SDR 2.1 million (US$3.25 million equivalent) on the terms and conditions set out in the President's Memorandum (IDA/R2010-0070, dated March 12, 2010). Credit to Vietnam ­ Second Northern Mountains Poverty Reduction Project 6. The Executive Directors approved the credit to Vietnam for a Second Northern Mountains Poverty Reduction Project in the amount of SDR 96.6 million (US$150 million equivalent) on the payment terms and other terms and conditions set out in the President's Memorandum (IDA/R2010-0073, dated March 17, 2010). 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- M2010-0018 IDA/M2010-0018 IFC/M2010-0009 Credit to Vietnam ­ Central North Region Health Support Project 7. The Executive Directors approved the credit to Vietnam for a Central North Region Health Support Project in the amount of SDR 41.5 million (US$65 million equivalent) on the payment terms and other terms and conditions set out in the President's Memorandum (IDA/R2010-0074, dated March 17, 2010). Additional Financing Credit to Vietnam ­ Red River Delta Rural Water Supply and Sanitation Project 8. The Executive Directors approved the additional financing credit to Vietnam for a Red River Delta Rural Water Supply and Sanitation Project in the amount of SDR 42 million (US$65.27 million equivalent) on the payment terms and other terms and conditions set out in the President's Memorandum and Project Paper (IDA/R2010-0075; /1, dated March 17, 2010). Additional Financing Credit to Vietnam ­ Ho Chi Minh City Environmental Sanitation Project 9. The Executive Directors approved the additional financing credit to Vietnam for a Ho Chi Minh City Environmental Sanitation Project in the amount of SDR 58 million (US$90 million equivalent) on the payment terms and other terms and conditions set out in the President's Memorandum and Project Paper (IDA/R2010-0081; /1, dated March 17, 2010). Loan to Croatia ­ Justice Sector Support Project 10. The Executive Directors approved the loan to Croatia for a Justice Sector Support Project in the amount of EUR 26 million (US$36.3 million equivalent) on the payment terms and other terms and conditions set out in the President's Memorandum (R2010-0044, dated March 12, 2010). Adaptable Program Lending (Loan) to Argentina ­ Road Safety Project 11. The Executive Directors approved the loan to Argentina for a Road Safety Project in the amount of US$30 million on the payment terms and other terms and conditions set out in the President's Memorandum (R2010-0052, dated March 17, 2010). The adaptable program lending (APL) supports the first phase of a two-phase National Road Safety Program. Proposal to Restructure and Additional Financing Loan ­ State of Minas Gerais, with the Guarantee of Brazil ­ Second Minas Gerais Development Partnership Project 12. The Executive Directors approved the proposal to restructure and the additional financing loan to the State of Minas Gerais, with the guarantee of Brazil, for a Second Minas Gerais Development Partnership Project in the amount of US$461 million on the payment terms and other terms and conditions set out in the President's Memorandum and Project Paper (R2010-0055; /1-3, dated March 23, 2010). 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. -4- M2010-0018 IDA/M2010-0018 IFC/M2010-0009 India ­ Integrated Disease Surveillance Project ­ Proposal to Restructure 13. The Executive Directors recorded their approval on March 29, 2010 of the recommendation contained in paragraph 4 of the President's Memorandum entitled "India ­ Integrated Disease Surveillance Project ­ Proposal to Restructure" (IDA/R2010-0085, dated March 18, 2010). Nomination of Successor to Mr. Eli Whitney Debevoise (Committee on Governance and Executive Directors' Administrative Matters) 14. The Executive Directors recorded their approval on March 29, 2010 of the appointment of Mr. Ian Solomon to serve the remainder of the term of office of Mr. Eli Whitney Debevoise as member of the Committee on Governance and Executive Directors' Administrative Matters (R2010-0060[IDA/R2010-0086], dated March 18, 2010). Tanzania ­ Country Assistance Strategy Progress Report 15. The Executive Directors recorded their noting on March 30, 2010 of the Country Assistance Strategy Progress Report for Tanzania for the period FY2007-2010 (IDA/R2010-0057, dated March 9, 2010). Date of Next Meeting 16. It was agreed to hold a meeting of the Executive Directors of the Bank and IDA on Thursday, April 8, 2010. Adjournment 17. The meeting adjourned at 3:42 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 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.