FROM: Vice President and Corporate Secretary Minutes of Meeting of the Executive Directors of the Bank and IDA and the Boards of Directors of IFC and MIGA held in the Board Room on April 25, 2019 at 10:03 a.m. 1. There were present: CHAIRS: B. Lauwers, Acting Managing Director and Chief Financial Officer (CFO) S. von Friedeburg, Chief Operating Officer, IFC V. Iyer, Vice President and Chief Operating Officer, MIGA EXECUTIVE DIRECTORS, ALTERNATES, AND TEMPORARY ALTERNATES ACTING AS EXECUTIVE DIRECTORS: M. Abdul Karim A. Kouagou E. Agustin B. Lvin H. Alogeel R. Montgomery G. Antioch K. Nishikata E. Bouzis T. Nyamadzabo J. Chavez Presa P. Pagano K. Davidse D. Pierini H. De Villeroche R. Sheoraj R. Eletreby A. Subramani N. Francken S. Tarar W. Gruber Y. Yang D. Harris J. Zattler A. Klemola OFFICERS AND STAFF PARTICIPATING: S. Okoro, Senior Vice President and General Counsel Y. Tsikata, Vice President and Corporate Secretary A. van Trotsenburg, Regional Vice President G. Baker, Regional Vice President, IFC J. Hentschel, Country Director M. Baroudi, Director, MIGA * G. Goldschmidt, Director, IFC R. Cardarelli, Assistant Director – Western Hemisphere Department, IMF * 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. Argentina – Country Partnership Framework 2. The Executive Directors discussed the joint IBRD/IFC/MIGA Country Partnership Framework for Argentina for the period FY19-FY22 (R2019-0076[IFC/R2019-0085, MIGA/R2019-0034] dated April 3, 2019). Adjournment 3. The meeting adjourned 12:10 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 between April 24, 2019 and April 25, 2019 THE EXECUTIVE DIRECTORS OF THE BANK AND IDA Burkina Faso – Credit - First Fiscal Management, Sustainable Growth and Health Service Delivery Development Policy Operation 1. The Executive Directors recorded their approval on April 24, 2019 of the credit in the amount of Euro 87.6 million (US$100 million equivalent) to Burkina Faso for a First Fiscal Management, Sustainable Growth and Health Service Delivery Development Policy Operation on the terms and conditions set out in the President’s Memorandum (IDA/R2019-0072, dated April 3, 2019). Serbia – Loan - Enabling Digital Governance Project 2. The Executive Directors recorded their approval on April 24, 2019 of the loan in the amount of EUR 43.80 million (US$ 50 million equivalent) to Serbia for an Enabling Digital Governance Project on the terms and conditions set out in the President’s Memorandum (R2019- 0079, dated April 5, 2019). Serbia – Loan - Tax Administration Modernization Project 3. The Executive Directors recorded their approval on April 24, 2019 of the loan in the amount of EUR 45.3 million (US$52 million equivalent) to Serbia for a Tax Administration Modernization Project on the terms and conditions set out in the President’s Memorandum (R2019-0078, dated April 5, 2019). Global Environment Facility (GEF): Seventh Replenishment of the GEF Trust Fund - Corrigendum 4. The Executive Directors recorded their approval on April 25, 2019 of the recommendation in paragraph 7 of the Memorandum from the President entitled “Global Environment Facility (GEF): Seventh Replenishment of the GEF Trust Fund – Corrigendum� (R2018-0094[GEF/R2018-0008] /1, dated April 16, 2019). Niger – Additional Credit and Additional Loan from the Strategic Climate Fund’s Pilot Program for Climate Resilience (PPCR) - Community Action Project for Climate Resilience 5. The Executive Directors recorded their approval on April 25, 2019 of the additional credit in the amount of EUR 4.4 million (US$5 million equivalent) and the additional loan from the Strategic Climate Fund’s Pilot Program for Climate Resilience (PPCR) in the amount of US$9.597 million to Niger for the Community Action Project for Climate Resilience on the terms and conditions set out in the President’s Memorandum (IDA/R2019-0079, dated April 8, 2019). 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. Afghanistan – Grant - Afghanistan Land Administration System Project 6. The Executive Directors recorded their approval on April 25, 2019 of the grant in the amount of SDR 17.9 million (US$25 million equivalent) to Afghanistan for an Afghanistan Land Administration System Project on the terms and conditions set out in the President’s Memorandum (IDA/R2019-0074, dated April 8, 2019). Afghanistan – Grant - Payments Automation and Integration of Salaries in Afghanistan (PAISA) Project 7. The Executive Directors recorded their approval on April 25, 2019 of the grant in the amount of SDR 7.2 million (US$10 million equivalent) to Afghanistan for a Payments Automation and Integration of Salaries in Afghanistan (PAISA) Project on the terms and conditions set out in the President’s Memorandum (IDA/R2019-0075, dated April 8, 2019). ***************************************************************************** THE BOARD OF DIRECTORS OF IFC World Region – Additional Investment in LeapFrog Emerging Consumer Fund III, L.P. (LeapFrog Fund III) 8. The Board of Directors authorized on April 24, 2019 an additional investment in World Region - LeapFrog Emerging Consumer Fund III, L.P. (LeapFrog Fund III) (IFC/R2019-0096 dated April 12, 2019) in the form of additional equity investment of up to US$20 million and adopted the Resolution No. IFC2019-0013. ****************************************************************************** THE EXECUTIVE DIRECTORS OF THE BANK AND IDA, THE BOARD OF DIRECTORS OF IFC AND THE BOARD OF DIRECTORS OF MIGA Peru – Performance and Learning Review of the Country Partnership Framework 9. The Executive Directors of the Bank and IDA and the Boards of Directors of IFC and MIGA recorded their noting on April 25, 2019 of the Performance and Learning Review of the joint IBRD/IFC/MIGA Country Partnership Framework for Peru for the period FY17-FY21 (R2019-0075[IFC/R2019-0084, MIGA/R2019-0033], dated April 4, 2019). 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.