Minutes of a Meeting of the Executive Directors of IBRD and IDA - December 7, 2023 - Adjourned

Jul 19, 2026

Upload by Aurora

Meeting minutes document the Executive Directors’ attendance, participation of officers and staff, and the formal deliberations of the President’s Memorandum and recommendations for IBRD and IDA operations held on December 7, 2023. The minutes record approvals of an IBRD flexible loan and multiple IDA credits for Uzbekistan totaling US$800 million, including components under IDA20 Scale-Up Window terms. The record also notes adjournment time and subsequent approvals on an absence-of-objection basis covering credits and grants across several countries and projects.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages9

Reading Time23 min

Meeting overview

Attendance and participants

President’s memorandum and approvals

Adjournment and subsequent approvals

Absence-of-Objection basis

Streamlined approvals and country/program items

Public Disclosure Authorized Pub lic Disclosure Authorized Minutes of a Meeting of the Executive Directors of IBRD and IDA held in the Board Room on December 7, 2023, at 10:00 a.m. 1. There were present: CHAIR: S. Yang, Managing Director and WBG Chief Administrative Officer EXECUTIVE DIRECTORS, ALTERNATES, AND TEMPORARY ALTERNATES ACTING AS EXECUTIVE DIRECTORS: M. L. P. N. W. H. A. T. D. O. F. D. S. Alghfais Benmime Bonmartin Cabiles Charafeddine Demircan Dlodlo Dorji Favre Fuentes Gorordo Kim Lambasara L. R. G. H. A. N. J. I. E. R. E. E. Magagula Marshavin Minxhozi Murai Ouro Samah Putscher Qian Rakauskas Rhuggenaath Tasker Tierney Valle Maestro OFFICERS AND STAFF PARTICIPATING: M. Tembon, Vice President and Corporate Secretary S. Musiime, Chief Counsel A. Bassani, Regional Vice President C. Sanchez, Director, Strategy and Operations *W. Schloemer, Director, IFC T. Proskuryakova, Country Director M. Mantovanelli, Country Manager P. Yasar, Senior Economist *S. Zorya, Lead Agriculture Economist OTHER PARTICIPANTS: Y. Abdih, Mission Chief for Uzbekistan, IMF * 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 Uzbekistan – Loan and Credits-First Inclusive and Resilient Market Economy Development Policy Operation 2. The Executive Directors discussed the President’s Memorandum and Recommendation (R2023-0278[IDA/R2023-0288]; /2-3, dated November 13, 2023, November 17, 2023, and December 1, 2023, respectively) and approved a loan and three proposed credits to Uzbekistan for a total of US$800 million for the First Inclusive and Resilient Market Economy Development Policy Operation as follows: (a) a US dollar-denominated IBRD Flexible Loan of US$300 million; (b) a US dollar-denominated single currency IDA concessional credit of US$160 million; (c) a US dollar-denominated IDA concessional credit in the amount of US$240 million, which includes US$100 million from the IDA20 Scale-Up Window; and (d) a US dollardenominated IDA non-concessional credit in the amount of US$100 million from the IDA20 Scale-Up Window on the terms and conditions set out in the President’s Memorandum. Adjournment 3. The meeting adjourned at 11:11 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 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 29, 2023 and December 7, 2023 THE EXECUTIVE DIRECTORS OF IBRD AND IDA Kenya – Credit-Second Program for Strengthening Governance for Enabling Service Delivery and Public Investment in Kenya – Program-for-Results 1. The Executive Directors approved on November 29, 2023 a credit in the amount of EUR 235.7 million (US$250 million equivalent) to Kenya for the Second Program for Strengthening Governance for Enabling Service Delivery and Public Investment in Kenya on the terms and conditions set out in the President’s Memorandum (IDA/R2023-0286, dated November 8, 2023) . Mauritania – Additional Credit-Decentralization and Productive Intermediate Cities Support Project 2. The Executive Directors approved on November 29, 2023 an additional credit in the amount of SDR 19.1 million (US$25 million equivalent) from the Crisis Response Window to Mauritania for the Decentralization and Productive Intermediate Cities Support Project on the terms and conditions set out in the President’s Memorandum (IDA/R2023-0287, dated November 8, 2023) . Kyrgyz Republic – Credit-Kyrgyz Republic Air Quality Improvement Project 3. The Executive Directors

FAQs

What meeting was held and when?

A meeting of the Executive Directors of IBRD and IDA was held in the Board Room on December 7, 2023 at 10:00 a.m.

What approvals were made for Uzbekistan?

The Executive Directors discussed the President’s memorandum and approved an IBRD flexible loan and three proposed IDA credits for a total of US$800 million for a First Inclusive and Resilient Market Economy Development Policy Operation.

When did the meeting adjourn?

The meeting adjourned at 11:11 a.m.

Jul 19, 2026

Upload by Aurora