Minutes of a Meeting of the Board of Directors of IFC - June 29, 2023

Jul 19, 2026

Minutes of an IFC Board of Directors meeting held in the board room on June 29, 2023. The Board discussed and approved an IFC investment in Mansaart S.A.S. for the ANKA Project, including quasi-equity funding and blended finance components, and adopted a related resolution. The meeting also recorded adjournment time and proceeded to consider additional executive director approvals on an absence-of-objection basis, including regional waterway support and higher-education financing initiatives.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages7

Reading Time18 min

Meeting Proceedings

Attendance and Participants

Investment Approval: ANKA Project

Adjournment

Additional Approvals

Absence-of-Objection Basis

Central Africa Regional Waterways Project

Senegal Higher Education Project - ESPOIR-JEUNES

Public Disclosure Authorized Public Disclosure Authorized FROM: Vice President and Corporate Secretary Minutes of a Meeting of the Board of Directors ofIFC in the Board Room on June 29, 2023 at 10:01 a.m. 1. There were present: CHAIR: M. Gouled, Vice President DIRECTORS, ALTERNATES, AND TEMPORARY ALTERNATES ACTING AS DIRECTORS: M. Al Shamali A. Bello L. Beshawred R. Cordero Vargas FNU Dalyono A. Das N. George E. Gomes V. Granendran O. Graham Yamahuchi P. Hauger Z. Hurtic Z. Kibwe J. L. D. F. N. S. J. K. C. S. J. P. Kurski Laraia Medzhidova Momand Niuatui Otani Qian Rechico Richard Saeed Van De Poel Wiggen OFFICERS AND STAFF PARTICIPATING: R. Nagpal, Vice President and General Counsel M. Tembon, Vice President and Corporate Secretary S. Pimenta, Regional Vice President A. Gekis, Director W. Sonneborn, Director H. So, Manager 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. Official Use Only Cote d’Ivoire – Investment in Mansaart S.A.S. for the ANKA Project 2. The Board of Directors ofIFC discussed a President’s Memorandum and Report (IFC/R2023-0197, dated June 15, 2023) and approved an IFC investment in Mansaart S.A.S. for the ANKA Project of up to US$3.4 million consisting of (i) quasi-equity of up to US$1.7 million from IFC’s own account; and (ii) up to US$1.7 million from IFC in its capacity as the implementing entity of the IDA20 Private Sector Window Blended Finance Facility and in line with the IDA PSW Venture Capital Envelope and adopted Resolution No. IFC2023-0023. Adjournment 3. The meeting adjourned at 10:59 a.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. Official Use Only FROM: Vice President & Corporate Secretary Minutes of Meetings ofthe Executive Directors of IBRD and IDA in the Board Room on June 29, 2023 at 11:02 a.m. 1. There were present: CHAIRS: A.Bjerde, Managing Director, Operations EXECUTIVE DIRECTORS, ALTERNATES, AND TEMPORARY ALTERNATES ACTING AS EXECUTIVE DIRECTORS: J. Abdul Ghaffar A. Kotondi Amadou L. Albisson S. Krasochenkov A. Alroomi J. Kurski N. Cabiles F. Momand M. Coelho C. Nahon R. Cordero Vargas I. Park R. Dawai J. Putscher A. Dlodlo J. Qian O. Elias K. Rechico V. Gnanendran E. Strychacz T. Hyokai P. Wiggen P. Iyer J. Wissenburg Z. Kibwe OFFICERS AND STAFF PARTICIPATING: M. Tembon, Vice President and Corporate Secretary S. Musiime, Deputy General Counsel, Operations G. Chen, Vice President A. Bassani, Regional Vice President M. Raiser, Regional Vice President *A. Kouame, Country Director *R. Karadsheh, Director A. Banerji, Country Director P. Gupta, Regional Director L. Moorty, Regional Director H. Hatashima, Chief Evaluation Officer H. Soh, Practice Manager X. Wang, Lead Energy Specialist K. Smits, Lead Country Economist F. Blum, Senior Economist *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. Official Use Only India – Loan and Credit – First Low-Carbon Energy Programmatic Development Policy Operation 2. The Executive Directors considered the President’s Memorandum and Recommendation (R2023-0165[IDA/R2023-0164]; /2, dated June 6, 2023, June 26, 2023, respectively) and approved a loan in the amount of US$1,443,430,000 and non-concessional credit in the amount of US$56,570,000 to India for the First Low-Carbon Energy Programmatic Development Policy Operation on the terms and conditions set out in the President’s Memorand

FAQs

When was the IFC Board meeting held and when did it adjourn?

The meeting started at 10:01 a.m. on June 29, 2023 and adjourned at 10:59 a.m.

What investment did the Board approve for the ANKA Project?

The Board approved up to US$3.4 million for Mansaart S.A.S., including up to US$1.7 million quasi-equity from IFC’s own account and up to US$1.7 million from IFC via the IDA20 Private Sector Window Blended Finance Facility framework.

What approvals were authorized on an absence-of-objection basis on June 29, 2023?

Approvals included, among others, a Central African Republic grant and Republic of Congo credit for the Central Africa Regional Waterways Project, and a credit for Senegal’s Higher Education Project (ESPOIR-JEUNES).

Jul 19, 2026

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