90539
FROM: The Corporate Secretary



                 Minutes of Meeting of the Executive Directors of the Bank and IDA
                           and the Boards of Directors of IFC and MIGA
                    held in the Board Room on September 9, 2014 at 2:34 p.m.


1.         There were present:
                                                             CHAIR:

                                           S.M. Indrawati, Managing Director


EXECUTIVE DIRECTORS, ALTERNATES, AND TEMPORARY ALTERNATES
ACTING AS EXECUTIVE DIRECTORS:

      K.          Alkhudairy                                       F.         Heemskerk
      G.          Alzetta                                          G.         Hines
      A.          Atomate                                          M.         Kan
      S.          Aviel                                            N.         Khosa
      A.          Barclay                                          N.         Mota Pinto
      F.          Bilbeisi                                         F.         Odey
      J.          Bravo                                            W.         Rissmann
      B.          Charassangsomboon                                D.         Sandhu
      S.          Chen                                             S.         Santala
      H.          de Villeroche                                    A.         Smith
      C.          Forcieri                                         R.         Tan
      J.          Frieden                                          B.         Yu
      V.          Grishin



OFFICERS AND STAFF PARTICIPATING:

      A.M.        Leroy, General Counsel
      M.          Mohieldin, Corporate Secretary
      J.          Familiar, Vice President
      J-P         Prosper, Vice President, IFC
      J.          Hentschel, Country Director
      R.          Vish, Director, MIGA
      Z.          Mustafaoglu, Program Leader




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.
Argentina – Country Partnership Strategy

2.     The Executive Directors discussed the joint IBRD/IFC/MIGA Country Partnership
Strategy for Argentina for the period FY2015-FY2018 (R2014-0189[IFC/R2014-0275,
MIGA/R2014-0069], dated August 7, 2014).


Adjournment

3.        The meeting adjourned at 3:53 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 5, 2014 and September 9, 2014


THE BOARD OF DIRECTORS OF IFC

Africa Region – Investment in Abraaj Africa Fund III

1.     The Board of Directors authorized on September 5, 2014 an investment in Africa Region
– Abraaj Africa Fund III (IFC/R2014-0284, dated August 25, 2014) in the form of equity of up
to US$50 million.

Romania – Investment in Motoractive IFN S.A. Garanti Leasing Romania

2.     The Board of Directors authorized on September 8, 2014 an investment in Romania –
Motoractive IFN S.A. Garanti Leasing Romania (IFC/R2014-0286, dated August 26, 2014) in
the form of a senior loan of up to EUR 7 million.

Lebanon – Investment in Bank Audi s.a.l.

3.      The Board of Directors authorized on September 8, 2014 an investment in Lebanon –
Bank Audi s.a.l. (IFC/R2014-0287, dated August 26, 2014) in the form of common shares of up
to US$60 million. Ms. Aviel (via eCenter on September 5, 2014) wished to record her
abstention.




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.