Minutes of a Meeting of the Executive Directors of IBRD and IDA and the Boards of Directors of IFC and MIGA - June 27, 2023 - approved recommendations and adjourned

Jul 19, 2026

Meeting minutes record the attendance list and the outcomes of discussions among the Executive Directors of IBRD and IDA and the Boards of Directors of IFC and MIGA held on June 27, 2023. The document documents board review of multiple President’s Memoranda and Reports, including FY24 World Bank Budget, FY24 IFC budget positioning, and FY24 MIGA budget, and states that recommendations from the memoranda were approved. It also covers an absence-of-objection/streamlined approvals period and records adjournments at set times.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages15

Reading Time38 min

Minutes and attendance

FY24 World Bank Budget approval

IFC FY24 budget positioning approval

FY24 MIGA budget approval

Adjournment and additional approvals

Absence-of-Objection Basis / streamlined approvals

Proposal for a Credit Enhancement Trust Fund to enable IBRD lending to Ukraine

Botswana loan and related policy lending

Public Disclosure Authorized Public Disclosure Authorized Minutes of a Meeting of the Executive Directors of IBRD and IDA and the Boards of Directors of IFC and MIGA held in the Board Room on June 27, 2023, at 10:10 a.m. 1. There were present: CHAIR: A. Banga, President EXECUTIVE DIRECTORS, ALTERNATES, AND TEMPORARY ALTERNATES ACTING AS EXECUTIVE DIRECTORS: E. M. L. N. K. A. M. J. K. H. A. D. V. Acevedo Al Shamali Albisson Baloch Bawazier Bello Bugamelli Chang Davidse Demircan Dlodlo Favre Gnanendran E. P. Z. M. L. R. T. C. K. W. K. P. Gomes Iyer Kibwe Krake Lind Marshavin Miyahara Nahon Rechico Saputra Wijeyewardene Wisner OFFICERS AND STAFF PARTICIPATING: M. Tembon, Vice President and Corporate Secretary C. Frazier, Acting Vice President and Interim World Bank Group General Counsel R. Nagpal, Vice President and General Counsel, IFC A. Kumar-Capoor, Director and General Counsel, MIGA S. Yang, Managing Director and WBG Chief Administrative Officer H. Matano, Executive Vice President, MIGA E. Bourganskaia, Vice President, IFC S. Biswas, Acting Vice President, Budget, Performance Review, and Strategic Planning A. Nishio, Vice President E. Mountfield, Vice President 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 FY24 World Bank Budget 2. The Executive Directors discussed the President’s Memorandum and Report entitled“FY24 World Bank Budget”(R2023-0144[IDA/R2023-0145];/1, dated May 25, 2023, and June 22, 2023, respectively) and approved the recommendations contained in the last paragraph of the President’s Memorandum and detailed in Section 1.2 of the Bank’s Budget document. IFC FY24 Budget-Positioning for greater Ambition 3. The Board of Directors discussed the President’s Memorandum and Report entitled “IFCFY24 Budget-Positioning for Greater Ambition”(IFC/R2023-0177, dated June 5, 2023) and approved the recommendations contained in the last paragraph of the President’s Memorandum and detailed in Chapter 8 ofIFC’s Budget document. FY24 MIGA Budget 4. The Board of Directors discussed the President’s Memorandum and Report entitled“FY24 MIGA Budget”(MIGA/R2023-0070; /1, dated May 22, 2023, and July 26, 2023, respectively) and approved the recommendations contained in the last paragraph of the President’s Memorandum and detailed in Chapter 6 of MIGA’s Budget document. Adjournment 5. The meeting adjourned at 12:32 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. Official Use Only Minutes of a Meeting of the Executive Directors of IBRD held in the Board Room on June 27, 2023, at 2:35 p.m. 1. There were present: CHAIR: A. Kant, Managing Director and WBG Chief Financial Officer EXECUTIVE DIRECTORS, ALTERNATES, AND TEMPORARY ALTERNATES ACTING AS EXECUTIVE DIRECTORS: L. M. L. N. M. A. H. G. R. Z. J. D. R. Albisson Alsharif Benmime Cabiles Coelho Das Demircan Ekwere Kachur Kibwe Kurski Lohan Marshavin N. H. M. I. J. I. R. H. C. R. A. E. Mohd Yassin Murai Nzengou Park Qian Rakauskas Ramirez Caballero Seifeldin Sinckler Tasker Ursu-Williams Valle Maestro OFFICERS AND STAFF PARTICIPATING: M. Tembon, Vice President and Corporate Secretary A. Musiime, Deputy General Counsel, Operations A. Bassani, Vice President J. Lopez, Country Director S. Wahba, Regional Director B. Zaengerling, Senior Urban Development Specialist S. Sumer, Human Development Specialist This document has a restricted distribution and may be used by recipients only in the performance of their official duties. Its contents may n

FAQs

When and where was the meeting held?

The meeting was held in the Board Room on June 27, 2023.

What board items were discussed and approved for FY24?

The boards discussed and approved recommendations tied to the FY24 World Bank Budget, the IFC FY24 budget positioning report, and the FY24 MIGA budget report.

What approval mechanism is referenced for items approved between June 16 and June 27, 2023?

The document states items were approved on an Absence-of-Objection Basis or authorized to proceed on a streamlined basis during that period.

Jul 19, 2026

Upload by Ava Thompson