[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-109663-en":3,"doc-seo-109663-105":31,"detail-sidebar-cat-0-en-105":91},{"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":20,"is_deleted":4,"is_public":21,"is_downloadable":21,"audit_status":21,"page_count":22,"language":23,"language_code":24,"site_id":25,"html_lang":24,"table_of_contents":26,"faqs":27,"seo_title":28,"seo_description":14,"update_tm":29,"read_time":30},109663,13056703019404,"Miles","https://ap-avatar.wpscdn.com/davatar_29158cc5080c5b710cf443261637dec0",8,"Research & Report","Minutes of a Meeting of the Executive Directors - January 28, 2021","Minutes record a WebEx meeting of the Executive Directors of the Bank and IDA, together with the Boards of Directors of IFC and MIGA, held January 28, 2021. The document lists participating chairs, executive directors and counsel, then records approvals for IFC investment and MIGA guarantees related to the Central Térmica de Temane project in Mozambique, including loan components and blended finance terms. It also notes the meeting adjourned at 11:20 a.m., followed by approvals on an absence-of-objection basis for multiple country projects and a LIBOR transition recommendation.","Public Disclosure Authorized Public Disclosure Authorized  \nFROM: Vice President and Corporate Secretary  \nMinutes of a Meeting of the Executive Directors ofthe Bank and IDA and the Boards of Directors of IFC and MIGA held via WebEx on January 28, 2021 at 10:00 a.m.  \n1. There were present:  \nCHAIRS:  \nS. von Friedeburg, Chief Operating Officer, IFC  \nH. Matano, Executive Vice President, MIGA  \nA. van Trotsenburg, Managing Director, Operations  \nEXECUTIVE DIRECTORS, ALTERNATES, TEMPORARY ALTERNATES, AND TEMPORARY ALTERNATES ACTING AS EXECUTIVE DIRECTORS:  \nM.  \nA.  \nA.  \nE.  \nA.  \nM.  \nK.  \nH.  \nR.  \nG.  \nP.  \nH.  \nR.  \nAhmad  \nAlkhalaf Bedjaoui Bouzis Buisse Coelho Davidse Demircan Eletreby Haarde  \nHauger Ikarashi Khullar  \nA.  \nL.  \nA.  \nR.  \nM.  \nR.  \nF.  \nN.  \nE.  \nA.  \nK.  \nT.  \nKouagou Levonian Manuel  \nMarshavin Medina Montgomery Ngaruko Ray  \nValle Maestro Weintraub Zajdel-Kurowska Zhang  \nOFFICERS AND STAFF PARTICIPATING:  \nD. Gaye, Vice President and Corporate Secretary  \nJ. Frazier, Acting Senior Vice President and General Counsel  \nC. Stephens, Vice President and General Counsel, IFC  \nA. Kumar-Capoor, Director and General Counsel, MIGA  \nS. Pimenta, Regional Vice President, IFC  \nS. Maimbo, Director, IDA Mobilization and IBRD Corporate Finance  \nS. Suri, Director, MIGA  \nR. Puliti, Regional Director  \nR. Munyengeterwa, Director, IFC  \nMozambique-IFC Investment in and MIGA Guarantees for Investments in Central Térmica de Temane, S.A. and Support from the IDA19 IFC-MIGA Private Sector Window (PSW) Blended Finance Facility (BFF) and MIGA Guarantee Facility (MGF) to the Proposed International Finance Corporation (IFC) Investment and Multilateral Investment Guarantee Agency (MIGA) Guarantees for the Central Termica De Temane Project  \n2. The Board of Directors ofIFC considered the President’s Memorandum and a Report and approved the investment by IFC in Central Térmica de Temane, S.A. in Mozambique consisting of:  \n(i) an IFC “A” loan of up to US$100 million; (ii) an IFC “B1” loan(s) of up to US$100 million;(iii) a concessional senior loan of up to US$15 million from IFC acting as implementing entity of the IDA PSW BFF; (iv) a concessional subordinated loan of up to US$62 million from IFC acting as implementing entity ofthe IDA PSW BFF; and (v) client risk management interest rate swaps, representing a loan equivalent exposure of up to US$4 million (IFC/R2021- 0001 [MIGA/R2021-0001];/1, dated January 7, 2021, and January 13, 2021, respectively) and adopted Resolution No. IFC2021-0002.  \nThe Board of Directors of MIGA concurred with the issuance of the proposed guarantees for equity and shareholder loan and approved the issuance of guarantees for quasi-equity investment in Central Térmica de Temane, S.A. in Mozambique as set out in the President’s Memorandum.  \nThe Executive Directors ofthe Bank and IDA considered the President’s Memorandum and Recommendation (IDA/R2021-0005;/1, dated January 7, 2021, and January 13, 2021, respectively) and approved (i) an allocation of up to US$63 .1 million from the IDA19 PSWMGF to provide a combination of Reinsurance and FLL to the Project’s shareholders; and (ii) anallocation of US$77 million from the IDA19 PSW BFF constituted of a subordinated loan of up to US$62 million (or up to 10% of the Project cost), as well as a senior loan of up to US$15 million on the terms and conditions set out in the President’s Memorandum.  \nAdjournment  \n3. The meeting adjourned at 11:20 a.m.  \nThe following item(s) have been approved on an Absence-of-Objection Basis or have been authorized to proceed on a streamlined basis between January 22, 2021 and January 28, 2021  \nTHE EXECUTIVE DIRECTORS OF THE BANK AND IDA  \nUnited Nations Children’s Fund (UNICEF)– Additional Grant-South Sudan Provision of Essential Health Services Project  \n1. The Executive Directors approved on January 22, 2021 an additional grant to the United Nations Children’s Fund (UNICEF) in the amount of SDR 3.5 million (US$5 million ","cbCaimbuJVR64Dp9","https://ap.wps.com/l/cbCaimbuJVR64Dp9","pdf",223175,2,1,4,"English","en",105,"# Meeting overview\n## Participants\n## Resolutions and approvals for Mozambique Central Térmica de Temane\n## Adjournment\n# Streamlined approvals between January 22 and January 28, 2021\n## UNICEF additional grant - South Sudan\n## Nicaragua credit - Hurricanes Eta and Iota\n## Turkey loan - Organized Industrial Zones\n## Maldives additional grant - COVID-19 Emergency Income Support\n## Guyana additional credit - Secondary Education Improvement\n## Proposal regarding LIBOR transition","[{\"question\":\"What was approved for the Mozambique Central Térmica de Temane project?\",\"answer\":\"The Executive Directors of the Bank and IDA approved an allocation to provide reinsurance and FLL to project shareholders and also approved a subordinated loan and a senior loan from the IDA19 PSW BFF on the terms in the President’s Memorandum.\"},{\"question\":\"When did the meeting take place and what time did it adjourn?\",\"answer\":\"The document also records additional approvals on an absence-of-objection basis between January 22, 2021 and January 28, 2021.\"},{\"question\":\"Which other country projects were approved on an absence-of-objection or streamlined basis?\",\"answer\":\"Approvals included UNICEF’s additional grant for South Sudan, a credit to Nicaragua for Hurricanes Eta and Iota, a loan to Turkey for Organized Industrial Zones, an additional grant to the Maldives for COVID-19 Emergency Income Support, and an additional credit to Guyana for Secondary Education Improvement, along with a recommendation related to suspending fixed spread loans in the LIBOR transition context.\"}]","Minutes of a Meeting of the Executive Directors - 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