Minutes of a Meeting of the Executive Directors of IBRD - held on March 14, 2024 - Approvals and Adjournment Record

Jul 19, 2026

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Formal minutes record the meeting of the Executive Directors of IBRD held in the Board Room on March 14, 2024, including attendance, chair and participants, and the discussion of the President’s Memorandum and Recommendation (R2024-0011; and related references). The directors approve an IBRD loan for Kazakhstan and grant or approve additional financing actions for multiple countries and programs, including stated amounts, terms, and memorandum references. The record notes adjournment at 12:51 p.m. and approvals via absence-of-objection or streamlined authorization between March 1 and March 14, 2024.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages7

Reading Time18 min

Meeting Overview

Attendance and Discussion of the President’s Memorandum

Adjournment and Approval Procedures

Approved Financing Items (March 1-14, 2024)

Country and Program Approvals

Appointments and Budget Request Items

Public Disclosure Authorized Public Disclosure Authorized Minutes of a Meeting of the Executive Directors of IBRD held in the Board Room on March 14, 2024, at 11:41 a.m. 1. There were present: CHAIR: A. Bjerde, Managing Director, Operations EXECUTIVE DIRECTORS, ALTERNATES, AND TEMPORARY ALTERNATES ACTING AS EXECUTIVE DIRECTORS: Z. M. A. F. N. R. D. M. N. O. S. Z. D. Ahmed Alghfais Almulla Brotons Cabiles Dawai Favre Finaish Francken Graham Yamahuchi Hwang Kibwe Lohan R. G. H. I. E. C. N. R. H. E. T. W. Marshavin Minxhozi Murai Rakauskas Rhuggenaath Sinckler Strychacz Tasker Tavares Valle Maestro Yandon Yang OFFICERS AND STAFF PARTICIPATING: M. Tembon, Vice President and Corporate Secretary S. Musiime, Deputy General Counsel, Operations A. Bassani, Regional Vice President C. Sanchez, Director of Strategy and Operations A. Alam, Regional Director C. Cormier, Regional Director T. Proskuryakova, Country Director A. Mikhnev, Country Manager N. Sharma, Senior Economist Official Use Only Kazakhstan – Loan-Inclusive and Sustainable Economic Growth Development Policy Operation 2. The Executive Directors discussed the President’s Memorandum and Recommendation (R2024-0011;/1-2), dated January 31, 2024 and February 14, 2024, respectively) and approved a loan to Kazakhstan in the amount of 84,927 .1 million Japanese Yen (US$600 million equivalent) for an Inclusive and Sustainable Economic Growth Development Policy Operation as described in the Memorandum of the President. Mr. Gorordo wished to be recorded as abstaining. Adjournment 3. The meeting adjourned at 12:51 p.m. 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 March 1, 2024 and March 14, 2024 THE EXECUTIVE DIRECTORS OF THE BANK AND IDA India – Loan-Assam Resilient Rural Bridges Program 1. The Executive Directors approved on March 1, 2024 a loan in the amount of US$452 million to India for an Assam Resilient Rural Bridges Program on the terms and conditions set out in the President’s Memorandum (R2024-0022;/1-2, dated February 12, 2024, and February 23, 2024, respectively) . Tanzania – Credit-Project for Advancing Gender Equality in Tanzania 2. The Executive Directors approved on March 5, 2024 a credit in the amount of US$100 million to Tanzania for a Project for Advancing Gender Equality in Tanzania on the terms and conditions set out in the President’s Memorandum (IDA/R2024-0028, dated February 14, 2024) . Moldova – Loan-Modernization and Improvement of Rehabilitation Services Project 3. The Executive Directors approved on March 5, 2024 a loan in the amount of EUR 36.2 million (US$40 million equivalent) to Moldova for the Modernization and Improvement of Rehabilitation Services Project on the terms and conditions set out in the President’s Memorandum (R2024-0023, dated February 14, 2024) . Mr. Marshavin wished to be recorded as abstaining. World Bank Accountability Mechanism Budget Request for FY25 4. The Executive Directors approved on March 6, 2024 a document entitled “World Bank Accountability Mechanism Budget Request for FY25”(AMS/R2024-0001;/1, dated February 13, 2024, and February 28, 2024, respectively) . Inspection Panel Appointment 5. The Executive Directors approved on March 7, 2024 an appointment of Ms. Evelyn Dietsche for a term of five years effective April 8, 2024 (R2024-0041[IDA/R2024-0041], dated February 27, 2024) . Costa Rica – Loan-Costa Rica Climate Resilient Recovery and Territorial Development Project 6. The Executive Directors approved on March 8, 2024 a loan in the amount of US$350 million to Cost Rica for a Costa Rica Climate Resilient Recovery and Territorial Development Project on the terms and conditions set out in the President’s Memorandum (R2024-0030, dated February 20, 2024) . Official Use Only Internat

FAQs

What is the purpose of these minutes for IBRD on March 14, 2024?

They document the Executive Directors’ meeting, including attendance, discussion of the President’s Memorandum and Recommendation, and the approvals made during the authorization period.

Which major decision is described for Kazakhstan in this record?

The Executive Directors discussed the President’s Memorandum and approved an IBRD loan to Kazakhstan in the amount of 84,927.1 million Japanese Yen (US$600 million equivalent) for an Inclusive and Sustainable Economic Growth Development Policy Operation, with a note that a participant requested to be recorded as abstaining.

How are the approved items authorized in this record?

Approvals are stated as made on an absence-of-objection basis or authorized to proceed on a streamlined basis between March 1, 2024 and March 14, 2024, and the meeting adjourned at 12:51 p.m.

Jul 19, 2026

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