[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-110716-en":3,"doc-seo-110716-105":29,"detail-sidebar-cat-0-en-105":90},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":4,"is_deleted":4,"is_public":20,"is_downloadable":20,"audit_status":20,"page_count":21,"language":22,"language_code":23,"site_id":24,"html_lang":23,"table_of_contents":25,"faqs":26,"seo_title":13,"seo_description":14,"update_tm":27,"read_time":28},110716,1099514067415,"Rowan","https://ap-avatar.wpscdn.com/avatar/100002539d78ffe74a7?x-image-process=image/resize,m_fixed,w_180,h_180&k=1779092875211072502",8,"Research & Report","Minutes of a Meeting of the Boards of Directors of IFC and MIGA via WebEx - May 27, 2021","Formal minutes record a May 27, 2021 WebEx meeting of the Boards of Directors of IFC and MIGA, including attendance, chair and officer roles, and adoption of resolutions. The MIGA board approved creation of the new Trade Finance Guarantee (TFG) product and amendments to operational policies, alongside commitments of up to US$1 billion net over 36 months for trade finance guarantees to IFC. The IFC board approved a temporary increase and modification of investment authority within its Global Trade Finance Program (GTFP), plus an investment in South Africa relating to Aspen Pharmacare Holdings.","Public Disclosure Authorized Public Disclosure Authorized  \nFROM: Vice President and Corporate Secretary  \nMinutes of a Meeting of the Boards of Directors of IFC and MIGA via WebEx on May 27, 2021 at 9:35 a.m.  \n1. There were present:  \nCHAIRS:  \nS. von Friedeburg, Chief Operating Officer, IFC  \nH. Matano, Executive Vice President, MIGA  \nDIRECTORS, ALTERNATES, AND TEMPORARY ALTERNATES ACTING AS DIRECTORS:  \nS.  \nA.  \nV.  \nA.  \nF.  \nM.  \nH.  \nG.  \nM.  \nD.  \nL.  \nA.  \nA  \nAlam Alkhalaf Bassant Bedjaoui Bouvet Bugamelli Demircan Haarde  \nHasan Kinder Levonian Manuel  \nMcGee  \nM.  \nM.  \nT.  \nN.  \nN.  \nV.  \nT.  \nL.  \nE.  \nK.  \nT.  \nMedina  \nMilcic Nyamadzabo Parjiono Putscher  \nRay Tamozhnikov Tsuda  \nUribe Restrepo Valle Maestro Zajdel-Kurowska Zhang  \nOFFICERS AND STAFF PARTICIPATING:  \nD. Gaye, Vice President and Corporate Secretary  \nL. Sturtevant, Deputy General Counsel, IFC  \nA. Kumar-Capoor, Director and General Counsel, MIGA  \nE. Tafara, Vice President and Chief Risk, Legal and Admin Officer, MIGA  \nP. de Bolle, Senior Director, IFC  \nN. Louat, Director, IFC  \nS. Suri, Director, MIGA  \nM. Baroudi, Director, MIGA  \nA. Nucifora, Practice Manager  \nM. Fall, Chief Underwriter, MIGA  \nR. Faily, Senior Underwriter, MIGA  \nM. Toyoda, Senior Trade Finance Officer, IFC  \nA. Timofti, Trade Finance Officer, IFC  \nMIGA’s Commitments of Up to US$1 Billion (Net) Over a Period of 36 Months for Trade Finance Guarantees to International Finance Corporation in Select Multiple Countries anda New Product: MIGA Trade Finance Guarantees  \n2. The Board of Directors of MIGA discussed the President’s Memorandum and a Report and approved the establishment of a new product – the Trade Finance Guarantee (TFG) and the required amendments to the Operational Policies to implement the new product, and approved the commitments of up to US$1 Billion in net commitments, over a period of 36 months, to issue Trade Finance Guarantees to IFC with respect to investments by IFC under its Global Trade Finance Program (GTFP) platform as set out in paragraph 64 of the report. The MIGA Trade Finance Guarantees will cover IFC against the nonpayment risk of state-owned enterprise banks in selected IDA/ FCV countries and other low income emerging market and developing economy countries that will be included in the GTFP, and in respect of which the IFC will issue nonpayment risk guarantees to foreign commercial bank partners (MIGA/R2021-0024, dated May 7, 2021) . Mr. Haarde wished to be recorded as abstaining.  \nIFC’s World Region-Temporary Increase and Modification of Investment in Global Trade Finance Program  \n3. The Board of Directors ofIFC discussed the President’s Memorandum and a Report on a Temporary Increase and Modification of Investment in Global Trade Finance Program (GTFP) in IFC’s World Region and approved the temporarily increase the GTFP delegated authority program by up to US$500 million in outstanding balances, and also approved the modification for the GTFP in the World Region in conjunction with the proposed MIGA and IFC Trade Finance Guarantee Initiative as described in MIGA’s Board Paper (MIGA/R2021-0024) to optimize the World Bank Group’s (WBG) resources in order to respond to COVID-19 efficiently by leveraging IFC’s existing trade solutions platform during the crisis (IFC/R2021-0095, dated May 7, 2021), and adopted Resolution No. IFC2021-0006. Mr. Haarde wished to be recorded as abstaining.  \nAdjournment  \n4. The meeting adjourned at 11:14 a.m.  \nMinutes of a Meeting of the Board of Directors ofIFC  \nvia WebEx on May 27, 2021 at 11:20 a.m.  \n1. There were present:  \nCHAIRS:  \nS. von Friedeburg, Chief Operating Officer  \nDIRECTORS, ALTERNATES, AND TEMPORARY ALTERNATES ACTING AS DIRECTORS:  \nS.  \nA.  \nV.  \nA.  \nF.  \nL.  \nA.  \nH.  \nD.  \nG.  \nM.  \nD.  \nL.  \nAlam Alkhalaf Bassant Bedjaoui  \nBerger Bouzis Buisse Demircan Favre Haarde  \nHasan Kinder Levonian  \nA.  \nM.  \nT.  \nN.  \nL.  \nV.  \nT.  \nL.  \nE.  \nF.  \nT.  \nManuel Medina Nyamadzabo Parjiono Ray So","cbCaivEBbdndkjZS","https://ap.wps.com/l/cbCaivEBbdndkjZS","pdf",204786,1,11,"English","en",105,"# Meeting of the Boards of Directors of IFC and MIGA (via WebEx)\n## MIGA agenda: Trade Finance Guarantees (TFG) and commitments\n## IFC agenda: Temporary increase and modification of GTFP investment authority\n## Adjournment\n# Minutes of a Meeting of the Board of Directors of IFC (via WebEx)\n## Investment in Aspen Pharmacare Holdings Limited\n## Adjournment\n# Minutes of a Meeting of the Executive Directors of the Bank (via WebEx)\n## Colombia – Resilient and Inclusive Housing Project","[{\"question\":\"What meeting date and time are recorded for the IFC and MIGA board session via WebEx?\",\"answer\":\"The minutes record the meeting on May 27, 2021 at 9:35 a.m. via WebEx.\"},{\"question\":\"What did the MIGA Board approve regarding trade finance?\",\"answer\":\"The MIGA Board approved establishing the new Trade Finance Guarantee (TFG) product and the required amendments to operational policies, and it approved net commitments up to US$1 billion over 36 months to issue trade finance guarantees to IFC.\"},{\"question\":\"What actions did the IFC Board take for its Global Trade Finance Program (GTFP)?\",\"answer\":\"The IFC Board approved a temporary increase of GTFP delegated authority by up to US$500 million in outstanding balances and approved modifications to the GTFP tied to the proposed MIGA and IFC trade finance guarantee 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