Minutes of a Meeting of the Executive Directors of the Bank and IDA and the Board of Directors of IDA - March 28, 2023 - Adjourned 11:36 a.m.

Jul 19, 2026

Minutes record the meeting of the Executive Directors of the World Bank and IDA held in the Board Room on March 28, 2023 at 10:00 a.m. The Executive Directors reviewed the President’s Memorandum and Recommendation dated March 13, 2023 and approved an IDA credit of US$500 million for the Second DRC Foundational Economic Governance Reforms Development Policy Financing under the stated terms. The session adjourned at 11:36 a.m., followed by listed approvals on an absence-of-objection basis or via a streamlined process between March 24, 2023 and March 28, 2023.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages6

Reading Time15 min

Attendance and Meeting Overview

Adjournment and Approval Process

Approved Items (March 24-28, 2023)

Public Disclosure Authorized Public Disclosure Authorized Minutes of a Meeting of the Executive Directors ofthe Bank and IDA held in the Board Room on March 28, 2023, at 10:00 a.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: C. M. H. K. A. H. A. T. O. Y. P. L. Z Acosta Al Shamali Amrane Bawazier Buisse Demircan Dlodlo Francis Fuentes Gavish Iyer Jakovljevic Kibwe M. S. L. L. S. I. K. W. N. R. H. W. Krake Krasochenkov Laraia Lind Otani Park Rechico Saputra Strychacz Tasker Tavares Yang OFFICERS AND STAFF PARTICIPATING: M. Tembon, Vice President and Corporate Secretary S. Musiime, Deputy General Counsel, Operations A. Dar, Director, Strategy and Operations A. Zeufack, Country Director A. Alam, Regional Director A. Soliman, Regional Director G. Jaffrin, Program Leader OTHER PARTICIPANTS: M. Vera Martin, Mission Chief, IMF A. Toure, Senior Economist, IMF G. Nolin, Economist, IMF 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. Democratic Republic of Congo-Credit-Second DRC Foundational Economic Governance Reforms Development Policy Financing 2. The Executive Directors discussed the President’s Memorandum and Recommendation (IDA/R2023-0039, dated March 13, 2023) and approved a credit in the amount of US$500 million to Democratic Republic of Congo for a Second DRC Foundational Economic Governance Reforms Development Policy Financing on the terms and conditions set out in the President’s Memorandum. Adjournment 3. The meeting adjourned at 11:36 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. 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 24, 2023 and March 28, 2023 THE EXECUTIVE DIRECTORS OF THE BANK AND IDA Armenia-Loan-Green, Resilient and Inclusive Armenia Development Policy Operation 1. The Executive Directors approved on March 24, 2023 a loan in the amount of EUR 92.3 million (US$100 million equivalent) to Georgia for a First Green and Resilient Georgia Development Policy Operation on the terms and conditions set out in the President’s Memorandum (R2023-0040;/1-3, dated March 6, 2023, March 6, 2023, March 21, 2023, and March 21, 2023, respectively) . Georgia-Loan-Georgia Resilient Agriculture, Irrigation, and Land Project 2. The Executive Directors approved on March 24, 2023 a credit in the amount of EUR 69.3 million (US$75.0 million equivalent), to Georgia for a Georgia Resilient Agriculture, Irrigation, and Land Project on the terms and conditions set out in the President’s Memorandum (R2023- 0050;/1-4, dated March 7, 2023, March 7, 2023, March 21, 2023, March 21, 2023, and March 23, 2023, respectively) . Dominican Republic-Loan-Dominican Republic Water Sector Modernization Program 3. The Executive Directors approved on March 24, 2023 a Multiphase Programmatic Approach (MPA) with an overall Program Financing Envelope of US$500 million and a loan for Phase 1 in the amount of US$250 million to the Dominican Republic for a Dominican Republic Water Sector Modernization Program on the terms and conditions set out in the President’s Memorandum (R2023-0048, dated March 7, 2023) . India-Loan-Assam Integrated River Basin Management Program 4. The Executive Directors approved on March 24, 2023 a financing envelope of US$500 million for the Assam Integrated River Basin Management Program (the “Program”) utilizing the Multiphase Programmatic Approach (MPA) and as Phase

FAQs

When was the meeting held and when did it adjourn?

The meeting took place on March 28, 2023 at 10:00 a.m. It adjourned at 11:36 a.m.

What approval did the Executive Directors make for the Democratic Republic of Congo?

They approved an IDA credit of US$500 million for the Second DRC Foundational Economic Governance Reforms Development Policy Financing, based on the terms in the President’s Memorandum.

How were additional items approved between March 24, 2023 and March 28, 2023?

Items were either approved on an Absence-of-Objection Basis or authorized to proceed on a streamlined basis.

Jul 19, 2026

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