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Reports of the Executive Directors of the Bank THE WORLD BANK GROUP Public Disclosure Authorized 2014 ANNUAL MEETINGS OF THE BOARDS OF GOVERNORS Public Disclosure Authorized SUMMARY PROCEEDINGS Public Disclosure Authorized Public Disclosure Authorized Washington, D.C. October 10-11, 2014 THE WORLD BANK GROUP Headquarters 1818 H Street, N.W. Washington, D.C. 20433 U.S.A. Phone: (202) 473-1000 Fax: (202) 477-6391 Internet: www.worldbankgroup.org INTRODUCTORY NOTE The 2014 Annual Meetings of the Boards of Governors of the World Bank Group (Bank), which consists of the International Bank for Reconstruction and Development (IBRD), International Finance Corporation (IFC), International Development Association (IDA), Multilateral Investment Guarantee Agency (MIGA) and International Centre for the Settlement of Investment Disputes (ICSID), held jointly with that of the International Monetary Fund (Fund), took place on October 10, 2014 in Washington D.C. The Honorable Patrick Pruaitch, Governor of the Fund and Bank for Papua New Guinea served as the Chairman. The Summary Proceedings record, in alphabetical order by member countries, the texts of statements by Governors and the resolutions and reports adopted by the Boards of Governors of the World Bank Group. Mahmoud Mohieldin The Corporate Secretary World Bank Group Washington, D.C. March, 2015 iii CONTENTS Page Opening Address by the Chairman Patrick Pruaitch Governor of the World Bank Group and the International Monetary Fund for Papua New Guinea ...............................................................................................................1 Opening Address by Jim Yong Kim, President of the World Bank Group .....................................4 Report by Marek Belka Chairman of the Development Committee ................................................9 Statements by Governors and Alternate Governors.......................................................................11 Australia ...............................................11 Lithuania ..............................................41 Bangladesh ...........................................12 Malaysia ...............................................43 Belgium ................................................17 Malta ....................................................44 Colombia ..............................................19 Myanmar ..............................................46 India .....................................................21 Nepal ....................................................48 Japan ....................................................23 New Zealand ........................................50 Jamaica .................................................26 Poland ..................................................52 Indonesia ..............................................29 Philippines............................................55 Iran .......................................................31 Spain ....................................................58 Kiribati .................................................32 Sri Lanka ..............................................60 Korea ....................................................34 Thailand ...............................................62 Lebanon................................................37 Tonga ...................................................64 Documents of the Board of Governors ..........................................................................................68 Schedule of Meetings ...............................................................................................................68 Provisions Relating to the Conduct of the Meetings ...............................................................69 Agendas....................................................................................................................................70 Joint Procedures Committee ..........................................................................................................71 Report II ...................................................................................................................................72 Report III ..................................................................................................................................74 MIGA Procedures Committee .......................................................................................................75 Report I ....................................................................................................................................76 Resolutions Adopted by the Board of Governors of the Bank between the 2013 and 2014 Annual Meetings .........................................................................................................................78 No. 633 Forthcoming Annual Meetings of the Boards of Governors Proposed Dates for the 2016 and 2017 Annual Meetings in Washington, D.C. .... 78 No. 634 Transfer from Surplus to Replenish the Trust Fund for Gaza and West Bank ....... 78 _____________________ * Speaking on behalf of a group of countries iv No. 636 Direct Remuneration of Executive Directors and their Alternates ......................... 79 No. 637 Changes in Retirement Benefits for Executive Directors and their Alternates ....... 79 Resolutions Adopted by the Board of Governors of the Bank at the 2014 Annual Meetings .......80 No. 638 Financial Statements, Accountants’ Report and Administrative Budget ................ 80 No. 639 Allocation of FY14 Net Income.............................................................................. 80 No. 640 Transfer from IBRD Surplus to the Global Infrastructure Facility ......................... 80 Resolutions Adopted by the Board of Governors of IFC at the 2014 Annual Meetings ...............82 No. 260 Financial Statements, Accountant’s Report, Administrative Budget and Designations of Retained Earnings ............................. 82 Resolutions Adopted by the Board of Governors of IDA between the 2013 and 2014 Annual Meetings .........................................................................................................................83 No. 234 Additions to Resources: Seventeenth Replenishment ............................................. 83 Resolutions Adopted by the Board of Governors of IDA at the 2014 Annual Meetings .............97 No. 235 Financial Statements, Accountants’ Report and Administrative Budget ................ 97 Resolutions Adopted by the Board of Governors of MIGA between the 2013 and 2014 Annual Meetings .........................................................................................................98 No. 95 2014 Regular Election of Directors ......................................................................... 98 Resolutions Adopted by the Board of Governors of MIGA at the 2014 Annual Meetings...........99 No. 96 Financial Statements and the Report of the Independent Accountants ..................... 99 Reports of the Executive Directors of the Bank ......................................................................... 100 Forthcoming Annual Meetings of the Boards of Governors Proposed Dates for the 2016 and 2017 Annual Meetings in Washington, D.C................. 100 Transfer from Surplus to Replenish Trust Fund for Gaza and West Bank ........................... 101 2014 Regular Election of Executive Directors ..................................................................... 102 Rules for the 2014 Regular Election of Executive Directors ................................................ 104 Statement of Results of Election, October 10, 2014 ............................................................. 108 Allocation of FY14 Net Income ........................................................................................... 116 Transfer from IBRD Surplus to the Global Infrastructure Facility....................................... 117 Report of the Board of Directors of IDA .................................................................................... 118 Additions to IDA Resources: Seventeenth Replenishment .................................................. 118 v Report of the Board of Directors of MIGA ................................................................................ 177 2014 Regular Election of Directors ...................................................................................... 177 Rules for the 2014 Regular Election of Executive Directors ................................................ 180 Statement of Results of Election, October 10, 2014 ............................................................. 183 Accredited Members of the Delegations at the 2014 Annual Meetings ......................................191 Observers at the 2014 Annual Meetings ......................................................................................240 Executive Directors and Alternates IBRD, IFC, IDA ..................................................................248 Directors And Alternates MIGA ..................................................................................................250 Officers of the Board of Governors and Joint Procedures Committee for 2014-2015 ................252 Officers of the MIGA Council of Governors and Procedures Committee for 2014-2015 ..........253 vi OPENING ADDRESS BY THE CHAIRMAN, PATRICK PRUAITCH GOVERNOR OF THE WORLD BANK GROUP AND THE INTERNATIONAL MONETARY FUND FOR PAPUA NEW GUINEA Managing Director of the International Monetary Fund, Christine Lagarde, World Bank Group President, Jim Yong
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