Minutes of a Meeting of the Executive Directors of the Bank and IDA and the Boards of Directors of IFC and MIGA held via WebEx on June 25, 2021

Jul 19, 2026

Official minutes of a WebEx meeting of the Executive Directors of the World Bank Group entities Bank and IDA, and the Boards of Directors of IFC and MIGA, held on June 25, 2021. The record covers attendance and participation by senior officers and counsel, discussions of FY22 budget-related President’s memoranda and reports, approval of recommendations and budget details across Bank, IFC, and MIGA, and the adjournment at 12:00 p.m. It also documents an absence-of-objection approval list for specific IBRD, IDA, grants, credits, and related resolutions.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages6

Reading Time15 min

Meeting Overview

Attendance and Participation

Budget Deliberations and Approvals

Adjournment and Closing Remarks

Absence-of-Objection Approvals

IBRD FY21 Net Income and Loan Charge Waivers for FY22

Country Grants and Credits

Public Disclosure Authorized Public Disclosure Authorized FROM: Vice President and Corporate Secretary Minutes of a Meeting of the Executive Directors ofthe Bank and IDA and the Boards of Directors of IFC and MIGA held via WebEx on June 25, 2021 at 9:33 a.m. 1. There were present: CHAIR: D. Malpass, President EXECUTIVE DIRECTORS, ALTERNATES, AND TEMPORARY ALTERNATES ACTING AS EXECUTIVE DIRECTORS: E. M. A. A. F. E. M. J. K. H. D. G. M. Acevedo Ahmad Alkhalaf Bedjaoui Bouvet Bouzis Bugamelli Chang Davidse Demircan Favre Haarde Hasan R. A. L. A. M. T. R. T. N. N. V. A. Khullar Kouagou Levonian Manuel Medina Miyahara Montgomery Nyamadzabo Putscher Ray Tamozhnikov Weintraub OFFICERS AND STAFF PARTICIPATING: C. Frazier, Acting Senior Vice President and General Counsel L. Sturtevant, Deputy General Counsel, IFC A. Kumar-Capoor, Director and General Counsel, MIGA Y. Tsikata, Vice President and Corporate Secretary S. Yang, Managing Director and WBG Chief Administrative Officer M. Diop, Chief Executive Officer IFC H. Matano, Executive Vice President, MIGA E. Tafara, Vice President and Chief Risk, Legal and Admin Officer, MIGA A. Bassani, Vice President M. Mahurkar, Vice President, IFC 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. FY22 World Bank Budget 2. The Executive Directors discussed the President’s Memorandum and Report entitled“FY22 World Bank Budget”(R2021-0104[IDA/R2021-0161];/1, dated May 28, 2021, and June 9, 2021, 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 FY22 Budget-Leveraging Resources for a Resilient Recovery 3. The Board of Directors discussed the President’s Memorandum and Report entitled “IFCFY22 Budget-Leveraging Resources for a Resilient Recovery”(IFC/R2021-0137;/1, dated May 26, 2021, and June 9, 2021, respectively) and approved the recommendations contained in the last paragraph of the President’s Memorandum and detailed in Chapter 9 ofIFC’s Budget document. Mr. Montgomery wished to be recorded as abstaining. FY22 MIGA Budget 4. The Board of Directors discussed the President’s Memorandum and Report entitled“FY22 MIGA Budget”(MIGA/R2021-0031; /3, dated May 26, 2021, June 4, 2021, June 9, 2021, and June 17, 2021, respectively) and approved the recommendations contained in the paragraph 1.2 of the President’s Memorandum and detailed in Chapter 6 of MIGA’s Budget document. Farewell to Executive Director 5. The Chair made the customary presentation to Mr. Geir Haarde, Executive Director (Iceland), on the expiration of his terms of service and tendered him good wishes for the future. The Executive Directors recorded their appreciation. Adjournment 6. The meeting adjourned at 12:00 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. The following item(s) have been approved on an Absence-of-Objection Basis or have been authorized to proceed on a streamlined basis on June 25, 2021 THE EXECUTIVE DIRECTORS OF THE BANK AND IDA Allocation of IBRD FY21 Net Income and Waivers of Loan Charges for FY22 1. The Executive Directors recorded their approval on June 25, 2021 of the recommendations contained in paragraph 9 of the Memorandum of the President entitled“Allocation of IBRD FY21 Net Income and Waivers of Loan Charges for FY22”(R2021-0106; /1, dated May 28, 2021, and June 17, 2021, respectively) and adopted Resolution No.2023-0009. Burundi-Grant, of which a portion is from the IDA Window for Host Communities and Refugees (WHR) -Burundi Skills for Jobs:

FAQs

When and how was the meeting held?

The meeting was held via WebEx on June 25, 2021, starting at 9:33 a.m. and adjourned at 12:00 p.m.

What topics did the Executive Directors discuss and approve?

They discussed and approved recommendations in the President’s memoranda and reports for FY22 budgets for the World Bank, IFC, and MIGA, including details specified in the relevant budget documents.

What is the “absence-of-objection basis” section about?

It lists items approved on an absence-of-objection basis or authorized to proceed on a streamlined basis, including IBRD FY21 net income allocation and FY22 loan charge waivers, along with specified grants and credits for multiple countries.

Jul 19, 2026

Upload by Olivia Brown