Transcript of meeting of the Executive Directors of the Bank and IDA, held on Tuesday, November 21, 1995

1 NM INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT INTERNATIONAL DEVELOPMENT ASSOCIATION Tuesday, November 21, 1995 Washington, D.C. The meeting of the Executive Directors was convened at 10:05 a.m. in the Board Room, 700 Eighteenth Street, N.W., Washington, D.C., Mr. Richard Frank, Chairman, presiding. MILLER REPORTING COMPANY, INC. 507 C Street, N.E. Washington, D.C. 20002 (202) 546-6666  2 C O N T E N T S ITEM PAGE 3 Projects Processed Under Streamlined Procedure: 86 (a) Proposed Loan - Argentina (Social Protection Project) (b) Proposed Loan - Argentina (Public Investment Strengthening Technical Assistance Project) Mr. Evans 86 Mr. Chneiweiss 87 Mr. Veglio 87 MILLER REPORTING COMPANY, INC. 507 C Street, N.E. Washington, D.C. 20002 (202) 546-6666  88 Item three is approval of the two operations listed on the agenda under the streamlined procedure. In the absence of objection, the loans are approved. I am sorry. Mr. Evans. MR. EVANS: Mr. Chairman, I don't wish to raise a point on the loans or object to them, but I have noticed there have been one or two comments circulated by colleagues on these loans to -- we are talking about Argentina, right? MR. FRANK: Right. MR. EVANS: And I just wonder, Mr. Chairman, whether you and colleagues would feel that some discussion on developments in Argentina in some form or other, formal or informal, might be useful before long. This is an important country, implementing some difficult and courageous policies and where the Bank is doing a lot. And I think at some stage it will be helpful to review progress there. Thank you. MR. FRANK: Yes, Mr. Evans. I am sure we can arrange that, to have the Latin America Region give you an update of how they see events there. MILLER REPORTING COMPANY, INC. 507 C Street, N.E. Washington, D.C. 20002 (202) 546-6666  89 And we had last week a bit of an update on Mexico and that will also bear close watching as well. But I will arrange for that to be done in the upcoming sessions. With that, we will consider the loans are approved. Mr. Chneiweiss. MR. CHNEIWEISS: Excuse me, Mr. Chairman. Just to say that I support what Huw Evans has just said, and I have asked a question in my circulated memo, and I would be glad to have a written answer by the staff when it is possible. Thank you. MR. FRANK: Yes. I understand that the staff have been in touch with you on that, but they can certainly follow up with a written note. Yes. MR. VEGLIO: Very short, just to say that we also made some comments on the social protection project, and we would expect to have a written comment by staff. Thank you very much. MR. FRANK: As I say, I think there has been a discussion, and we can follow that up with a written note. MILLER REPORTING COMPANY, INC. 507 C Street, N.E. Washington, D.C. 20002 (202) 546-6666