INTERNATIONAL FINANCE CORPORATION BOARD OF GOVERNORS Resolution No. 260 Financial Statements, Accountant’s Report, Administrative Budget and Designations of Retained Earnings RESOLVED: 1. THAT the Board of Governors of the Corporation consider the Consolidated Financial Statements and Independent Auditors’ Report included in the 2014 Annual Report and the Administrative Budget contained in the Report to the Board of Governors on “Aligning Resources for Impact: IFC FY15 Budget� (the “Report�), as fulfilling the requirements of Article IV, Section 11, of the Articles of Agreement and of Section 16 of the By-Laws of the Corporation; 2. THAT the Corporation's FY14 Net Income of $1,488 million shall be transferred to undesignated retained earnings; 3. THAT the Corporation’s designation of $58 million of retained earnings for IFC’s Funding Mechanism for Technical Assistance and Advisory Services in IFC’s Fiscal Year 2015 financial statements is hereby noted with approval; and, 4. THAT the Corporation’s designation of $340 million of retained earnings in IFC's Fiscal Year 2015 financial statements for grants to the International Development Association for use by the Association in the form of grants in furtherance of the Corporation's purposes is hereby noted with approval. (Adopted on October 10, 2014)