77421   FROM: Vice President and Corporate Secretary     Minutes of Meeting of the Board of Directors of IFC,   held in the Board Room on Thursday, March 21, 2013, at 12:22 p.m.     1. There were present:   CHAIR:   S. Khairi, Vice President, CRPVP   EXECUTIVE DIRECTORS AND ALTERNATES ACTING AS EXECUTIVE DIRECTORS:   L. Atheeq (Temporary Alternate) A. Hassan (Temporary Alternate) G. Balcytyte (Alternate) R. Hernandez (Temporary Alternate)   A. Barclay (Temporary Alternate) H. Hua (Temporary Alternate) D. Bohan (Alternate) S. James (Alternate)   O. Bougara J.-P. Julia (Alternate) P. Cameron (Temporary Alternate) A. Kane (Temporary Alternate)   M. Dentana (Temporary Alternate) S. Kurasawa (Temporary Alternate) T. Feidieker (Temporary Alternate) M. Muhtar   C.G. Forcieri S. Nanu (Alternate) J. Frieden L. Palma (Temporary Alternate)   S. Gooch (Temporary Alternate) M.S. Pamuksuz (Alternate) V. Grishin R. Tan   M. Hasan   ALTERNATE NOT ACTING AS EXECUTIVE DIRECTOR:   W. Szczuka   OFFICERS AND STAFF PARTICIPATING:   S.   Suleymanov, Acting Corporate Secretary K. Dowers, CFGRF D. Harris, Acting General Counsel, CLVVP O. Mussat, CNGOG D. Tsitsiragos, Vice President, CEMVP* L. Shalamberidze, CFGIF S. Hoda, Director, CN3DR* M. Toledo, CN2S7 J. Scriven, Director, CFGDR L. Tacher, Corporate Secretariat D. Crist, CNGOG *Via Videoconference 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.    -2-   MENA Region - Investment in Petroceltic International   2. The Board of Directors considered the President's Memorandum and a Report on an investment in   Petroceltic International plc in the Middle East and North African (MENA) Region (IFC/R2013-0058, dated March 8, 2013) and adopted the following resolution:   RESOLUTION NO. IFC 2013-0015   RESOLVED:   (A) THAT the Corporation be authorized to conclude the transactions outlined in   paragraph 7.1 of the Report substantially on the terms therein set forth; and   (B) THAT the President, the Executive Vice President, a Vice President, the Vice President and General Counsel, the Deputy General Counsel, a Department   Director, or any staff member of the Corporation authorized by any one of them, enter in the name and on behalf of the Corporation, into an agreement or   agreements providing for such transactions and containing such other terms and conditions as he or she, by the execution thereof, shall approve.   World Region - Investment in Munich Re Surety Facility   3. The Board of Directors considered the President's Memorandum and a Report on an investment in   the Munich Re Surety Facility in the World Region (IFC/R2013-0054, dated March 8, 2013) and adopted the following resolution:   RESOLUTION NO. IFC 2013-0016   RESOLVED:   (A) THAT the Corporation be authorized to conclude the transactions outlined in   paragraph 7.1 of the Report substantially on the terms therein set forth; and   (B) THAT the President, the Executive Vice President, a Vice President, the Vice President and General Counsel, the Deputy General Counsel, a Department   Director, or any staff member of the Corporation authorized by any one of them, enter in the name and on behalf of the Corporation, into an agreement or     agreements providing for such transactions and containing such other terms and conditions as he or she, by the execution thereof, shall approve. 4. The Board of Directors recorded its authorization for Management to proceed with the following investments under the Streamlined Procedure: (a) China - investments in Bank of Beijing (CHUEE SEM BOB); Bank of Shanghai CHUEE SEM BOS); and Bank of Nanjing (CHUEE SEM BON) (IFC/R2013-0048, dated February 28, 2013) in the form of an unfunded risk sharing facility in the Bank of Beijing and in the Bank of Shanghai , each, of up to RMB 440 million (US$70 million equivalent), and in the Bank of Nanjing of up to RMB 250 million (US$40 million equivalent), authorized on March 12, 2013. 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.    -3-   (b) Peru - an investment in Callao Norte (IFC/R2013-0046, dated February 28, 2013) in the form of   an "A" loan of up to US$75 million and a "B" loan of up to US$142 million, authorized on March 12, 2013.   (c) South Africa - an investment in Amakhala Wind (IFC/R2013-0050; /1, dated March 4 and March   18, 2013, respectively) in the form of an "A" loan of up to US$65 million and a "C" loan of up to US$7 million, authorized on March 14, 2013.   (d) India - an investment in India 2020 Fund II Limited (IFC/R2013-0051, dated March 5, 2013) in   the form of equity of up to US$25 million, authorized on March 15, 2013.   (e) Peru - an investment in Ceramica San Lorenzo (IFC/R2013-0052, dated March 5, 2013) in the form of an "A" loan of up to US$20 million, authorized on March 15, 2013.   (f) Cote d’Ivoire - an investment in International Aircraft Services (IAS) (IFC/R2013-0053; /1, dated   March 6 and March 7, 2013, respectively) in the form of a senior loan of up to US$7 million, authorized on March 18, 2013.   (g) Turkey - an investment in Plato College of Higher Education and EGL Holdings B.V.   (Netherlands) (IFC/R2013-0055, dated March 6, 2013) in the form of a senior convertible loan of up to US$6 million, authorized on March 18, 2013.   Minutes of Previous Meetings   5. The Board of Directors recorded its approvals on March 13, 2013 of the Minutes of the meeting   held on January 31, 2013 (IFC/M2013-0011), and, on March 14, 2013 of the Minutes of the meeting held on December 20, 2012 (IFC/M2013-0007).   Adjournment   6. The meeting adjourned 1:12 pm.           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.