Minutes of a Meeting of the Board of Directors of IFC, MIGA and the Executive Directors of the Bank - November 2, 2023

Jul 19, 2026

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Board minutes document the meeting held on November 2, 2023 at 10:01 a.m., listing the chair, directors, alternates, temporary alternates, and participating officers and staff. The Board reviews CAO compliance investigation reports and related IFC management reports and management action plans, approving action plans and noting publication on CAO’s website. The meeting concludes with adjournment at 11:58 a.m. and records executive director approvals between November 1 and 2, 2023, including additional credit and grant items.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages3

Reading Time8 min

Meeting of the Board of Directors

Attendance and participating officers

Management action plan approvals

Adjournment

Executive Directors approvals (absence-of-objection)

Additional credit - CASA-1000 (Kyrgyz Republic)

Grant approval - Africa Think Tank Platform Project

Public Disclosure Authorized Public Disclosure Authorized Minutes of a Meeting of the Board of Directors ofIFC held in the Board Room on November 2, 2023, at 10:01 a.m. 1. There were present: CHAIR: M. Diop, IFC Managing Director and Executive Vice President DIRECTORS, ALTERNATES, AND TEMPORARY ALTERNATES ACTING AS DIRECTORS: M. A. T. D. M. N. N. V. E. K. A. M. L. Bugamelli Buisse Dorji Favre Finaish Fiti Nedelkovska Francken Gnanendran Gomes Harrigan Kiampuku Krake Lind A. C. F. S. K. S. W. H. R. H. E. W. Morozov Nahon Ngaruko Otani Rechico Saeed Saputra Seifeldin Srinivasakrishnan Tavares Valle Maestro Yang OFFICERS AND STAFF PARTICIPATING: M. Tembon, Corporate Secretary R. Nagpal, Vice President and General Counsel S. Pimenta, Regional Vice President J. Ferretti, Director General T. Kaddeche, Director N. Ahmad, Director E. Torres Barrera, Advisor P. Flanagan, Senior Environmental/Social Compliance Specialist P. Lombardo, Chief Environmental Specialist 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. Management Progress Report on Implementation of the Management Action Plan for Egypt Alexandria Development Limited 2. The Board of Directors considered CAO’s Compliance investigation Report and IFC’s Management Report and Management Action Plan in Relation to the CAO Compliance Investigation Report on Alexandria Development Limited, Egypt and approved the Management Action Plan (MAP) (IFC/R2023-0204;/1, dated June 20, 2023, and September 28, 2023, respectively) . CAO’s investigation report, the Management Report and MAP will be published on CAO’s website. IFC Management Report in Relation to the CAO Compliance Investigation Report on LONMIN PLC-South Africa-Sub Saharan Africa 3. The Board of Directors also considered CAO’s Compliance investigation Report and IFC’s Management Report in Relation to the CAO Compliance Investigation Report on LONMIN PLC-South Africa-Sub Saharan Africa (IFC/R2023-0277, dated September 7, 2023) . IFC will submit for Board’s consideration on an absence of objection, a Management Action Plan addressing recommendation six of CAO’s compliance investigation Following approval of the MAP, the CAO Investigation report, the Management Report and MAP will be published on CAO’s website. Adjournment 4. The meeting adjourned at 11:58 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. The following item(s) have been approved on an absence-of-objection basis or have been authorized to proceed on a streamlined basis between November 1, 2023 and November 2, 2023 THE EXECUTIVE DIRECTORS OF THE BANK AND IDA Kyrgyz Republic – Additional Credit-Central Asia South Asia Electricity Transmission and Trade Project (CASA-1000) for Kyrgyz Republic 1. The Executive Directors approved on November 1, 2023 an additional credit in the amount of US$18.3 million to the Kyrgyz Republic for the Central Asia South Asia Electricity Transmission and Trade Project (CASA-1000) for Kyrgyz Republic on the terms and conditions set out in the President’s Memorandum (IDA/R2023-0265, dated October 13, 2023) . African Union – Grant-Africa Think Tank Platform Project 2. The Executive Directors approved on November 2, 2023 a grant to the African Union (AU) in the amount of SDR 37.6 million (US$50 million equivalent) for the Africa Think Tank Platform Project on the terms and conditions set out in the President’s Memorandum (IDA/R2023-0266, dated October 16, 2023) . ****************************************************************************** THE EXECUTIVE DIRECTORS OF THE BANK AND IDA, THE BOARDS OF DIREC

FAQs

When and where was the meeting held?

The meeting was held on November 2, 2023, in the Board Room, starting at 10:01 a.m.

What main topics were considered by the Board?

The Board considered CAO’s compliance investigation reports and IFC’s management reports and management action plans related to specific projects and approved the relevant management action plans.

What decisions were recorded after adjournment?

The document records item approvals on an absence-of-objection basis or streamlined authorization between November 1, 2023 and November 2, 2023, including an additional credit for CASA-1000 and a grant to the African Union.

Jul 19, 2026

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