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Highlights – Board Meeting of 11 july 2018

27-Sep-2018

The Board noted that the document under review presents the main conclusions and recommendations resulting from the review of the compliance of the Sendou coal-fired power plant project with the Bank Group's policies and procedures, as well as the plan of action envisaged by Management in that regard. Board members took note of the presentation and expressed concern about the reputational risks associated with the project and the fact that disbursements were made despite all the problems identified. Executive Directors also felt that Management's response needed to be revised and further enriched, and re-submitted to the Board. Therefore, the Board agreed to reconsider the matter in due course, as soon as the revised version of Management’s response is made available.

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