Docstoc

Board of Directors

Document Sample
Board of Directors Powered By Docstoc
					                                                       Board of Directors



                                        M7-10
                                        6 April 2010




MINUTES OF THE MEETING OF THE BOARD OF DIRECTORS OF THE
ASIAN DEVELOPMENT BANK HELD AT 10:00 A.M. ON 26 MARCH 2010

                            PRESENT:


 PRESIDENT:                    Haruhiko Kuroda

 VICE PRESIDENT:               C. Lawrence Greenwood, Jr.

 DIRECTORS:                    Phil Bowen
                               Marwanto Harjowiryono
                               Ashok K. Lahiri
                               Masakazu Sakaguchi
                               Jaejung Song
                               Eduard Westreicher
                               Yingming Yang

 ALTERNATE DIRECTORS
 ACTING FOR DIRECTORS:         Jose Miguel Cortes
                               Christopher Grewe (Temporary)
                               Rizwan Bashir Khan (Temporary)
                               Jacob Rooimans (Temporary)
                               Govinda Bahadur Thapa

 ALTERNATE DIRECTORS:          Md. Aminul Islam Bhuiyan
                               Richard Edwards
                               Xiuzhen Guan
                               Dereck Rooken-Smith
                               CJ (Stan) Vandersyp
                               Yasuto Watanabe


 OFFICER-IN-CHARGE, OSEC:      Ajay Sagar
                                                  2                                     M7-10



STAFF:
Office of the Secretary: Zsi-Zsi Rachman, Principal Board Operations and Administration
Specialist
Office of the General Counsel: Philip Daltrop, Deputy General Counsel
South Asia Department: Sultan Hafeez Rahman, Director General; Thevakumar Kandiah,
Director (SAEN); Priyantha Wijayatunga, Energy Specialist (SAEN)



1.1   The Board considered and approved the Draft Minutes of the Meeting of 16 March 2010
(DOC.DM6-10).

2.1   The Board considered DOC.R23-10:            Proposed     Loans—Natural     Gas   Access
Improvement Project (Bangladesh) and approved

       (i)    the loan of $261,000,000 to the People's Republic of Bangladesh for the Natural
              Gas Access Improvement Project from ADB's ordinary capital resources, with
              interest to be determined in accordance with ADB's London interbank offered
              rate (LIBOR)-based lending facility; a term of 25 years, including a grace period
              or 5 years; and such other terms and conditions as are substantially in
              accordance with those set forth in the draft loan and project agreements
              presented to the Board; and

       (ii)   the loan in various currencies equivalent to SDR 3,249,000 to the People's
              Republic of Bangladesh for the Natural Gas Access Improvement Project from
              ADB's Special Funds resources with an interest charge at the rate of 1.0% per
              annum during the grace period and 1.5% per annum thereafter; a term of 32
              years, including a grace period of 8 years; and such other terms and conditions
              as are substantially in accordance with those set forth in the draft loan and
              project agreements presented to the Board.

3.1   The Board recorded its approval, with effect from 15 March 2010, of DOC/EX/Sec.M1-10:
Extension of Appointment of Vice President (Finance and Administration).

4.1   The Board recorded its approval, with effect from 22 March 2010, of the
recommendation in paragraph 84 of DOC.R19-10: Proposed Loan and Administration of Loan
and Grant—Java-Bali Electricity Distribution Performance Improvement Project (Indonesia)
(Summary Procedure).

5.1   The Board recorded its approval, with effect from 22 March 2010, of the
recommendation in paragraph 25 of DOC.R25-10: Loan 2306-LAO: Basic Education Sector
Development Program—Progress Report: Release of Second Tranche.

6.1   The Board recorded its approval, with effect from 23 March 2010, of the
recommendation in paragraph 14 of DOC.R21-10: Anticorruption Policy: Harmonization of
Debarments.