[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-111884-en":3,"doc-seo-111884-105":29,"detail-sidebar-cat-0-en-105":90},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":4,"is_deleted":4,"is_public":20,"is_downloadable":20,"audit_status":20,"page_count":21,"language":22,"language_code":23,"site_id":24,"html_lang":23,"table_of_contents":25,"faqs":26,"seo_title":13,"seo_description":14,"update_tm":27,"read_time":28},111884,13056703019662,"Evangeline","https://ap-avatar.wpscdn.com/avatar/be000253a8e92610077?_k=1778726343310543188",8,"Research & Report","Minutes of a Meeting of the Executive Directors of the Bank, IDA, and the Board of Directors of IFC - Meeting Minutes","Meeting minutes record proceedings of the Executive Directors of the Bank and IDA and the Board of Directors of IFC held on August 29, 2024. The attendees include chairs and executive directors with participating officers and staff. The Executive Directors approve an IFC investment in Madagascar through a senior unsecured loan for BNI Madagascar supporting MSME financing, and IDA approves corresponding local currency facility swaps under IDA20 PSW LCF terms. The Executive Directors also discuss and approve an IDA financing envelope for Pacific islands and the Pacific Islands Forum under the President’s Memorandum.","Public Disclosure Authorized Public Disclosure Authorized  \nMinutes of a Meeting of the Executive Directors ofthe Bank and IDA and the Board of Directors ofIFC  \nheld in the Board Room on August 29, 2024, at 10:01 a.m.  \n1. There were present:  \nCHAIRS:  \nR. Puliti, Regional Vice President, IFC  \nW. Zhang, Managing Director and WBG Chief Administrative Officer  \nEXECUTIVE DIRECTORS, ALTERNATES, AND TEMPORARY ALTERNATES ACTING AS EXECUTIVE DIRECTORS:  \nZ.  \nF.  \nA.  \nM.  \nV.  \nA.  \nH.  \nA.  \nM.  \nV.  \nM.  \nT.  \nB.  \nAhmed Alswied Buisse Coelho  \nConcalves Cavalcanti  \nDas Demircan Diallo Finaish James Krake Lunde Maser  \nD.  \nS.  \nR.  \nE.  \nM.  \nN.  \nH.  \nS.  \nT.  \nE.  \nH.  \nW.  \nMedzhidova Otani  \nPierini Rhuggenaath Rodland Allen  \nSegole  \nSeifeldin Suter Teo  \nValle Maestro  \nVan Dyke Yang  \nOFFICERS AND STAFF PARTICIPATING:  \nM. Tembon, Vice President and Corporate Secretary  \nC. Frazier, Deputy General Counsel  \nR. Nagpal, Vice President and General Counsel, IFC  \nS. Pimenta, Regional Vice President for Africa  \nA. Gekis, Director, Operations Management  \nA. Maiga, Regional Director for Africa for Financial Institutions Group  \nK. Miller, Regional Manager for Southern Africa for Financial Institutions Group  \nN. Ngueyn, Principal Investment Officer  \nL. Lannutti, Senior Operations Officer  \nThis 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.  \nMadagascar-Investment in BNI Madagascar for the MFP-BOP BNI Madagascar Project with Support from the IDA20 IFC-MIGA Private Sector Window (PSW) Local Currency Facility (LCF) to the International Finance Corporation’s (IFC) Investment  \nin BNI Madagascar  \n2. The Board of Directors ofIFC approved an investment in Madagascar-BNI Madagascar for the MFP-BOP BNI Madagascar Project (IFC/R2024-0263, dated August 16, 2024) consisting of a senior unsecured loan of up to US$30 million equivalent in Malagasy ariary (MGA) to BNI Madagascar (BNI) under the previously approved Micro, Small, and Medium Enterprise (MSME) Finance Platform (IFC/R2024-0119) Base of the Pyramid (BOP) envelope.  \n3. The Executive Directors of IDA approved an allocation of up to US$30 million from the IDA20 IFC-MIGA Private Sector Window (PSW) Local Currency Facility (LCF) in the form of swaps to hedge an IFC loan in local currency to BNI Madagascar (BNI) supporting financing to MSMEs in Madagascar and on the terms and conditions set out in the President’s Memorandum (IDA/R2024-0237, dated August 16, 2024) .  \nAdjournment  \n4. The meeting adjourned at 11:08 a.m.  \nThis 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.  \nMinutes of a Meeting of the Executive Directors ofthe Bank and IDA held in the Board Room on August 29, 2024, at 11:15 a.m.  \n1. There were present:  \nCHAIRS:  \nW. Zhang, Managing Director and WBG Chief Administrative Officer  \nEXECUTIVE DIRECTORS, ALTERNATES, AND TEMPORARY ALTERNATES ACTING AS EXECUTIVE DIRECTORS:  \nZ.  \nM.  \nP.  \nE.  \nM.  \nV.  \nR.  \nI.  \nS.  \nM.  \nS.  \nJ.  \nT.  \nAhmed Alghfais Bonmartin Busygin Coelho  \nConcalves Cavalcanti  \nDawai Dvorak Ercan Finaish  \nGuardado Hernandez Halwoodi  \nLunde  \nB.  \nK.  \nR.  \nE.  \nM.  \nH.  \nS.  \nH.  \nA.  \nK.  \nT.  \nW.  \nMaser  \nMason  \nPierini Rhuggenaath Rodland Allen Seifeldin Suter  \nTavares  \nTsuji Wijeyewardene Yandon  \nYang  \nOFFICERS AND STAFF PARTICIPATING:  \nM. Tembon, Vice President and Corporate Secretary  \nS. Musiime, Deputy General Counsel, Operations  \nM. Ferro, Regional Vice President  \nL. Moorty, Regional Director  \nJ. Pesme, Global Director  \nI. Skamnelos, Practice Manager  \nThis 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 disclo","cbCaihxkNtp7vbda","https://ap.wps.com/l/cbCaihxkNtp7vbda","pdf",170697,1,9,"English","en",105,"# Attendance and Meeting Details\n## Approval of IFC Investment in Madagascar\n## Approval of IDA Financing Envelope for Pacific Islands","[{\"question\":\"When and where was the meeting held?\",\"answer\":\"The meeting was held on August 29, 2024, in the Board Room, starting at 10:01 a.m. (with an adjournment at 11:08 a.m. for the first session described).\"},{\"question\":\"What did the IFC Board approve regarding Madagascar?\",\"answer\":\"The Board approved an IFC senior unsecured loan of up to US$30 million equivalent in Malagasy ariary to BNI Madagascar to support MSME financing under the previously approved MSME Finance Platform BOP envelope.\"},{\"question\":\"What did the IDA Executive Directors approve for the Pacific Islands Forum project?\",\"answer\":\"They approved an IDA financing envelope of SDR 52.2 million (US$68 million equivalent), including IDA credits and grants allocated across multiple Pacific countries and the Pacific Islands Forum, on terms set out in the President’s Memorandum.\"}]",1784492141,23,{"code":4,"msg":30,"data":31},"ok",{"site_id":24,"language":23,"slug":32,"title":13,"keywords":33,"description":14,"schema_data":34,"social_meta":85,"head_meta":87,"extra_data":89,"updated_unix":27},"minutes-of-a-meeting-of-the-executive-directors-of-the-bank-ida-and-the-board-of-directors-of-ifc-meeting-minutes","",{"@graph":35,"@context":84},[36,53,67],{"@type":37,"itemListElement":38},"BreadcrumbList",[39,43,47,50],{"item":40,"name":41,"@type":42,"position":20},"https://docshare.wps.com","Home","ListItem",{"item":44,"name":45,"@type":42,"position":46},"https://docshare.wps.com/document/","Document",2,{"item":48,"name":12,"@type":42,"position":49},"https://docshare.wps.com/document/research-report/",3,{"item":51,"name":13,"@type":42,"position":52},"https://docshare.wps.com/document/minutes-of-a-meeting-of-the-executive-directors-of-the-bank-ida-and-the-board-of-directors-of-ifc-meeting-minutes/111884/",4,{"url":51,"name":13,"@type":54,"author":55,"headline":13,"publisher":57,"fileFormat":60,"inLanguage":23,"description":14,"dateModified":61,"datePublished":61,"encodingFormat":60,"isAccessibleForFree":62,"interactionStatistic":63},"DigitalDocument",{"name":9,"@type":56},"Person",{"url":40,"name":58,"@type":59},"DocShare","Organization","application/pdf","2026-07-19",true,{"@type":64,"interactionType":65,"userInteractionCount":4},"InteractionCounter",{"@type":66},"ViewAction",{"@type":68,"mainEntity":69},"FAQPage",[70,76,80],{"name":71,"@type":72,"acceptedAnswer":73},"When 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