FROM: Vice President & Corporate Secretary Minutes of Meetings of the Executive Directors of the Bank and IDA held in the Board Room on July 16, 2019 at 10:04 a.m. 1. There were present: CHAIRS: K. Georgieva, Chief Executive Officer, IBRD/IDA EXECUTIVE DIRECTORS, ALTERNATES, AND TEMPORARY ALTERNATES ACTING AS EXECUTIVE DIRECTORS: E. Agustin K. Nishikata A. AlMutlak K. Panov G. Antioch P. Pedroso E. Bethel D. Pierini J. Chavez Presa G. Schoenleitner R. Eletreby A. Subramani Y. Gavish S. Tarar C. Hogan K. Tantitemit A. Kabagambe J-C. Tchatchouang D. Kinder H. de Villeroche L. Klemola K. Zajdel-Kurowska A. Manuel M. Zhang F. Neutze OFFICERS AND STAFF PARTICIPATING: I. Kichigina, Acting Senior Vice President and General Counsel M. Garcia, Acting Corporate Secretary *H. Ghanem, Vice President, Africa Region L. Finneran, Senior Adviser, DFI D. Wetzel, Director P. Noumba Um, Country Director E. Huybens, Regional Director D. Ringold, Regional Director E. Iijasz-Vasquez, Regional Director R. Kariuki, Country Manager M-A. Sotomayor Araujo, Practice Manager N. Feiss, Lead Economist A. Parvez, Senior Disaster Risk Management Specialist *via videoconference 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. Angola – Development Policy Loan – Angola Growth and Inclusion Development Policy Financing 2. The Executive Directors considered the President’s Memorandum and Recommendation (R2019-0151, dated June 21, 2019) and approved the development policy loan in the amount of US$500 million to Angola for the Angola Growth and Inclusion Development Policy Financing on the terms and conditions set out in the President’s Memorandum. Zimbabwe Idai Recovery Project 3. The Executive Directors considered the President’s Memorandum and Recommendation (IDA/R2019-0240, dated July 3, 2019) and approved the grant in the amount of SDR 52.3 million (US$72 million equivalent) from the IDA Crisis Response Window (CRW) to the United Nations Office for Project Services for the Zimbabwe Idai Recovery Project on the terms and conditions set out in the President’s Memorandum. Adjournment 4. The meeting adjourned 1:05 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 July 15-16, 2019 THE EXECUTIVE DIRECTORS OF THE BANK AND IDA World Bank Administrative Tribunal – Appointments and Reappointments 1. The Executive Directors recorded their approval on July 16, 2019 of the recommendation contained in paragraph 13 of the Memorandum of the President entitled “World Bank Administrative Tribunal – Appointments and Reappointments” (R2019-0191[IDA/R2018-0247], dated July 3, 2019). Southern African Power Pool (SAPP) – Additional Financing – Southern African Power Pool Program (SAPP) for Accelerating Transformational Energy Projects 2. The Executive Directors recorded their approval on July 15, 2019 of the additional grant in the amount of US$8.5 million to the Southern African Power Pool (SAPP) for the Southern African Power Pool Program (SAPP) for Accelerating Transformational Energy Projects on the terms and conditions set out in the President’s Memorandum (IDA/R2019-0242, dated July 2, 2019). Mr. Bethel wished to be recorded as opposing. Angola – Guarantee – Luanda Bita Water Supply Guarantee Project 3. The Executive Directors recorded their approval on July 16, 2019 of the guarantee in an aggregate face value not to exceed US$500 million in support of Angola for the Luanda Bita Water Supply Guarantee Project on the terms and conditions set out in the President’s Memorandum (R2019-0171, dated June 26, 2019). Angola – Loan – Strengthening the National Social Protection System Project (Cash Transfer) 4. The Executive Directors recorded their approval on July 16, 2019 of the loan in the amount of US$320 million to Angola for the Strengthening the National Social Protection System Project (Cash Transfer) on the terms and conditions set out in the President’s Memorandum (R2019-0180, dated July 3, 2019). Liberia – Grant – Public Financial Management Reforms for Institutional Strengthening Project 5. The Executive Directors recorded their approval on July 16, 2019 of the grant in the amount of SDR 13.8 million (US$19 million equivalent) to Liberia for the Public Financial Management Reforms for Institutional Strengthening Project on the terms and conditions set out in the President’s Memorandum (IDA/R2019-0233, dated June 25, 2019). ****************************************************************************** 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 BOARD OF DIRECTORS OF IFC Colombia, Peru and Central America – Investment in DARP SPV SCOB 6. The Board of Directors authorized on July 16, 2019 an investment in Colombia, Peru and Central America – DARP SPV SCOB (IFC/R2019-0233, dated July 2, 2019) in the form of a (i) senior “A” loan of up to US$20 million, and (ii) a junior loan of up to US$40 million. ****************************************************************************** THE EXECUTIVE DIRECTORS OF THE BANK AND IDA, THE BOARD OF DIRECTORS OF IFC AND THE BOARD OF DIRECTORS OF MIGA Official Travel of Executive Directors, Alternate Executive Directors, Senior Advisors and Advisors to Executive Directors as of July 11, 2019 7. The Executive Directors recorded their approval on July 15, 2019 of the “Official Travel of Executive Directors, Alternate Executive Directors, Senior Advisors and Advisors to Executive Directors as of July 11, 2019” (R2019-0193[IDA/R2019-0249, IFC/R2019-0239, MIGA/R2019-0098], dated July 12, 2019). Minutes of Previous Meetings 8. The Executive Directors of the Bank and IDA and the Boards of Directors of IFC and MIGA recorded their approval on July 12, 2019 of the minutes of the meeting held on June 11, 2019, and the record of approvals and authorizations between June 7-11, 2019 (M2019- 0033[IDA/M2019-0033, IFC/M2019-0033, MIGA/M2019-0032], dated July 3, 2019). 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.