Minutes of a Meeting of the Executive Directors of the Bank and IDA held via WebEx on June 23, 2022 - Meeting minutes

Jul 19, 2026

Minutes record the June 23, 2022 WebEx meeting of the Bank and IDA Executive Directors. Presentations include discussion of the President’s Memorandum and Recommendation for multiple country operations. The Directors approved an additional credit to Nicaragua for COVID-19 response, a development policy grant to the Democratic Republic of Congo for economic governance reforms, and additional financing for transport and connectivity. The minutes also note abstentions by specific Directors and list streamlined approvals between June 22 and June 23, 2022.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages6

Reading Time15 min

Attendance and Meeting Overview

Nicaragua – COVID-19 Response Additional Credit

Democratic Republic of Congo – Development Policy Grant and Financing

Adjournment and Streamlined Approvals

Public Disclosure Authorized Public Disclosure Authorized Minutes of a Meeting of the Executive Directors ofthe Bank and IDA held via WebEx on June 23, 2022, at 10:00 a.m. 1. There were present: CHAIR: A. van Trotsenburg, Managing Director, Operations EXECUTIVE DIRECTORS, ALTERNATES, AND TEMPORARY ALTERNATES ACTING AS EXECUTIVE DIRECTORS: A. N. M. A. K. H. E. M. R. A. M. A. L. A. Alkhalaf Baloch Bugamelli Buisse Davidse Demircan Gomes Hasan Khullar Kouagou Krake Kugler Lind Manuel R. M. T. N. K. A. R. E. K. F. Marshavin Medina Nyamadzabo Parjiono Ray Rechico Sasaki Tasker Valle Maestro Zajdel-Kurowska Zang OFFICERS AND STAFF PARTICIPATING: S. Musiime, Chief Counsel M. Garcia, Acting Vice President and Corporate Secretary F. Jaramillo, Regional Vice President H. Ghanem, Regional Vice President M. Kerf, Country Director J-C. Carret, Country Director A. Khanna, Practice Manager G. Jaffrin, Program Leader J. Bucknall, Senior Adviser OTHER PARTICIPANTS: M. Vera Martin, Mission Chief, IMF A. Toure, Senior Economist, IMF G. Nolin, Economist, IMF S. Zerbo, Economist, IMF M. Pohl, Research Analyst, IMF Nicaragua – Additional Credit-Nicaragua COVID-19 Response Project under the COVID-19 Strategic Preparedness and Response Program (SPRP) using the Multiphase Programmatic Approach (MPA) 2. The Executive Directors discussed the President’s Memorandum and Recommendation (IDA/R2022-0205;/2, dated May 23, 2022, and June 10, 2022, respectively) and approved the additional credit in the amount of US$116 million to Nicaragua for the COVID-19 Response Project under the COVID19 SPRP using the Multiphase Programmatic Approach (MPA) on the terms and conditions set out in the President’s Memorandum. Mmes. Kugler and Rechico and Messrs. Bugamelli, Buisse, Davidse and Montgomery wished to be recorded as abstaining. Democratic Republic of Congo – Development Policy Grant-DRC Foundational Economic Governance Reforms Development Policy Financing 3. The Executive Directors discussed the President’s Memorandum and Recommendation (IDA/R2022-0238, dated May 31, 2022) and approved the development policy grant in the amount of SDR 186 million (US$250 million equivalent) to the Democratic Republic of Congo (DRC) for a DRC Foundational Economic Reforms Development Policy Financing on the terms and conditions set out in the President’s Memorandum. Democratic Republic of Congo-Transport and Connectivity Support Project 4. The Executive Directors discussed the President’s Memorandum and Recommendation (IDA/R2022-0247, dated June 2, 2022) and approved a credit in the amount of US$427 .98 million and a grant in the amount of SDR 53.6 million (US$72 .02 million equivalent) to the Democratic Republic of Congo (DRC) for a Transport and Connectivity Support Project on the terms and conditions set out in the President’s Memorandum. Ms. Kugler wished to be recorded as abstaining. Adjournment 5. The meeting adjourned at 1:06 p.m. The following item(s) have been approved on an Absence-of-Objection Basis or have been authorized to proceed on a streamlined basis between June 22, 2022, and June 23, 2022 THE EXECUTIVE DIRECTORS OF THE BANK AND IDA Burundi – Grant-Digital Foundations Project 1. The Executive Directors approved on June 22, 2022 a grant in the amount of SDR 37.2 million (US$50 million equivalent) to Burundi for a Digital Foundations Project on the terms and conditions set out in the President’s Memorandum (IDA/R2022-0248, dated June 2, 2022) . Liberia – Credit and Grant-Liberia Women Empowerment Project 2. The Executive Directors approved on June 22, 2022 a credit in the amount of SDR 20.0 million (US$26 . 8 million equivalent), and a grant in the amount of SDR 13.3 million (US$17 .8 million equivalent) to Liberia for a Liberia Women Empowerment Project on the terms and conditions set out in the President’s Memorandum (IDA/R2022-025

FAQs

What was the purpose of the June 23, 2022 WebEx meeting?

The Executive Directors discussed the President’s Memorandum and Recommendation and approved financing actions for multiple projects and grants.

Which decisions were approved for Nicaragua?

An additional credit of US$116 million was approved for the COVID-19 Response Project under the COVID-19 Strategic Preparedness and Response Program using the Multiphase Programmatic Approach.

What other major approvals were recorded during the meeting?

Approvals included a development policy grant for the Democratic Republic of Congo focused on foundational economic governance reforms and financing for a transport and connectivity support project.

Jul 19, 2026

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