Canada at the IMF and World Bank Group 2011 – Part 3 of 3

Report on Operations Under the Bretton Woods and Related Aggrements Act

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Annex 1 

Annex 2 
Communiqués of the International Monetary and Financial Committee of the Board of Governors of the IMF, 2011

Washington, DC
April 16, 2011

Communiqué of the Twenty-Third Meeting of the International Monetary and Financial Committee of the Board of Governors of the International Monetary Fund

Chaired by Mr. Tharman Shanmugaratnam, Minister for Finance of Singapore

We welcome Minister Tharman as our new Chairman. We thank Dr. Youssef Boutros-Ghali for his service as IMFC Chairman during challenging times.

Global economy. The global recovery is gaining strength but remains vulnerable. We discussed the significant risks to the outlook and decided to take necessary actions to strengthen the recovery. Credible actions are needed to accelerate progress in addressing challenges to financial stability and sovereign debt sustainability, and to ensure timely fiscal consolidation in advanced economies, whilst taking steps to avoid overheating in emerging market countries, and dealing with risks from higher commodity prices. We also underscore the importance of employment creation for medium-term sustainability. Against this background, the immediate economic impact of the tragic events in Japan and of developments in some Middle Eastern and North African countries also warrants close attention. As policies can have significant cross-border effects, we commit to continue to work together to address policy spillovers and to secure robust and balanced global growth.

Global financial stability. We are committed to accelerate efforts to strengthen the resilience of the financial sector and its ability to support economic recovery. Further progress is needed to address excessive financial risk taking and moral hazard, and strengthen supervision and regulation in financial centers. Recent international agreements on enhancing financial regulation must now be implemented and accompanied by more effective supervision. More cooperation and progress are needed to address risks posed by global systemically important financial institutions, including through heightened prudential standards, and on cross-border resolution. We welcome IMF contributions in these areas and on macro-prudential policy frameworks, as well as upcoming Financial Sector Assessment Program reports on economies with systemic financial sectors. We call for enhanced financial sector oversight of risks related to shadow banking activities and agree to maintain momentum to tackle noncooperative jurisdictions. We welcome the update on the data gaps initiative and look forward to concrete progress.

International Monetary System (IMS)

We welcome the IMF’s analytical work on the functioning of the IMS.

Surveillance. We look forward to a thorough assessment in the Triennial Surveillance Review of the effectiveness, evenhandedness, and traction of the Fund’s surveillance, including an assessment of possible gaps and any needed updates of the surveillance framework. Continued emphasis is needed on improving bilateral and multilateral surveillance, and enhancing the linkages between the financial and macroeconomic dimensions. Benefitting also from the recent IEO reports, we call for concrete proposals, by our next meeting, to further strengthen IMF surveillance, including on identification of risks, surveillance of countries that pose the largest systemic risks, and the coherence and integration of surveillance products. We look forward to candid and comprehensive spillover reports on economies with greatest systemic significance, and to discussing a consolidated multilateral surveillance report at our next meeting.

Capital flows. The IMF’s recent work on managing capital inflows is a step that should lead toward a comprehensive and balanced approach for the management of capital flows drawing on country experiences. Giving due regard to country-specific circumstances and the benefits of financial integration, such an approach should encompass recommendations for both policies that give rise to outward capital flows and the management of inflows. We urge the IMF to deepen its analysis of global liquidity, the varied experiences of member countries with capital account management, liberalization of cross-border capital flows, and development of domestic financial markets.

Liquidity. We welcome the upcoming discussion of global financial safety nets for dealing with systemic crises, including liquidity provision mechanisms, with adequate safeguards. We also welcome the significant expansion of resources in the New Arrangements to Borrow. We urge the Fund to work with regional financing arrangements to develop broad principles for cooperation with the IMF. We call for further work on a criteria-based path to broaden the composition of the SDR basket.

Low-income countries (LICs). Largely due to strong pre-crisis macroeconomic policy buffers, LICs were more resilient during the global crisis than in the past and have been recovering well but most remain vulnerable to the recent surge in food and fuel prices. It is important to address the economic and social impact of these price shocks. The IMF should continue to provide policy support and financing to help LICs overcome their balance of payments problems. We ask the IMF to refine its tools to assess LICs’ vulnerabilities and debt sustainability, and explore avenues to help LICs better manage volatility.

Governance. We welcome the entry into effect of the 2008 quota and voice reform and urge all members to work to make the 2010 quota and governance reform effective by the 2012 Annual Meetings. We look forward to enhancing the role of the IMFC as a key forum for global economic and financial cooperation.

Earthquake in Japan. We extend our sympathy and support to the government and people of Japan as they grapple with the impact of the recent natural disasters.

Next IMFC meeting. Our next meeting will be held in Washington, D.C. on September 24, 2011.

Washington, DC
September 24, 2011

Communiqué of the Twenty-Fourth Meeting of the IMFC: Collective Action for Global Recovery

Chaired by Mr. Tharman Shanmugaratnam, Deputy Prime Minister of Singapore and Minister for Finance

The global economy has entered a dangerous phase, calling for exceptional vigilance, coordination and readiness to take bold action from members and the IMF alike. We are encouraged by the determination of our euro-area colleagues to do what is needed to resolve the euro-area crisis. We welcome that the IMF stands ready to strongly support this effort as part of its global role.

Today we agreed to act decisively to tackle the dangers confronting the global economy. These include sovereign debt risks, financial system fragility, weakening economic growth and high unemployment. Our circumstances vary, but our economies and financial systems are closely inter-linked. We will therefore act collectively to restore confidence and financial stability, and rekindle global growth.

The advanced economies are at the core of an effective resolution of current global stresses. The strategy is to restore sustainable public finances while ensuring continued economic recovery. Taking into account different national circumstances, advanced economies will adopt policies to build confidence and support growth, and implement clear, credible and specific measures to achieve fiscal consolidation. Euro-area countries will do whatever is necessary to resolve the euro-area sovereign debt crisis and ensure the financial stability of the euro area as a whole and its member states. This includes implementing the euro-area Leaders’ decision of July 21 to increase the flexibility of the European Financial Stability Facility, maximizing its impact, and improve euro-area crisis management and governance. Advanced economies will ensure that banks have strong capital positions and access to adequate funding; maintain accommodative monetary policies as long as this is consistent with price stability, bearing in mind international spillovers; revive weak housing markets and repair household balance sheets; and undertake structural reforms to boost jobs and the medium-term growth potential of their economies.

Emerging market and developing economies, which have displayed remarkable stability and growth, are also key to an effective global response. The strategy is to adjust macro-economic policies, where needed, to rebuild policy buffers, contain overheating and enhance our resilience in the face of volatile capital flows. Surplus economies will continue to implement structural reforms to strengthen domestic demand, supported by continued efforts that achieve greater exchange rate flexibility, thereby contributing to global demand and the rebalancing of growth. Fostering inclusive growth and creating jobs are priorities for all of us.

We reaffirm the importance of the financial sector reform agenda and are committed to its full and timely implementation. We will continue our coordinated efforts to strengthen the regulation of systemically important financial institutions, establish mechanisms for orderly domestic and cross-border resolution of troubled financial institutions, and address risks posed by shadow banking.

We call on the Fund to play a key role in contributing to an orderly resolution of the current crisis and prevention of future crises. We welcome the Consolidated Multilateral Surveillance Report as an important tool to focus our discussions on key risks and policy issues. We welcome the directions set out in the Managing Director’s Action Plan. In particular, we encourage the Fund to focus on the following priorities and report to the IMFC at our next meeting:

• A more integrated, evenhanded, and effective surveillance framework that better captures risks to economic and financial stability, drawing on the Fund’s Triennial Surveillance Review and spillover reports;
• Early assessment of current financing tools and enhancements to the global financial safety net;
• Review of the adequacy of Fund resources;
• Ensuring adequate policy advice and financing to support low-income countries, including to address volatile food and fuel prices; and
• Further work on a comprehensive, flexible, and balanced approach for the management of capital flows, drawing on country experiences.

Governance reform is crucial to the legitimacy and the effectiveness of the IMF. We will intensify our efforts to meet the 2012 Annual Meetings target for the entry into force of the 2010 quota and governance reform. We call on the Fund to complete a comprehensive review of the quota formula by January 2013 and to report on progress at our next meeting. We reaffirm the commitment to complete the Fifteenth General Review of Quotas by January 2014. We look forward to further enhancing the role of the IMFC as a key forum for global economic and financial cooperation.

We thank Mr. Strauss-Kahn and Mr. Lipsky for their outstanding service at the helm of the Fund in difficult times. We warmly welcome Ms. Lagarde, Mr. Lipton, Ms. Shafik, and Mr. Zhu. Our next meeting will be held in Washington, D.C. on April 21, 2012.

Annex 3 
Communiqués of the Development Committee of the Boards of Governors of the World Bank and IMF, 2011

Washington, DC
April 16, 2011

Development Committee Communiqué

Joint Ministerial Committee of the Boards of Governors of the Bank and the Fund on the Transfer of Real Resources to Developing Countries

1. The Development Committee met today, April 16, 2011, in Washington DC.
2. We welcome evidence of a strengthening global economy, led in large part by developing countries. However we are concerned that overheating in some sectors, especially food and energy, is resulting in price pressures and volatility, putting developing countries and especially their most vulnerable populations at risk. We pledge to stay alert to the economic challenges arising from natural disasters, conflict and social unrest. We remain committed to ensuring sustainable, balanced and inclusive growth and providing timely, effective support where needed.
3. Recent events in parts of the Middle East and North Africa will have lasting social and economic impacts, which will differ from country to country. We welcome the timely World Bank Group (WBG) and IMF engagement and advice, including program and policy support for jobs, social safety nets, fiscal management, governance, promotion of private sector development and other critical areas. We call on the Bank to strengthen its support to the Middle East and North Africa, working with governments and with relevant multilateral, regional and bilateral organizations.
4. The international financial institutions continue to play an essential role in helping countries prevent and weather crises. We especially welcome the unprecedented sixteenth replenishment of the International Development Association (IDA) and the approval of the IBRD capital increase, and look forward to a swift adoption of IFC’s selective capital increase. We welcome IDA16’s focus on gender, fragile states and climate change and emphasis on results. We also look forward to IDA’s continued support for agriculture, infrastructure and energy. We welcome the special allocation for Haiti and the new dedicated Crisis Response Window to strengthen IDA16’s capacity to respond rapidly when member countries are hit by economic crises or natural disasters. All of these additional resources will help the WBG to continue to support member countries in their fight against poverty.
5. We welcome the fact that two thirds of developing countries are on target or close to being on target for reaching the Millennium Development Goals. However, progress has been mixed and it has slowed in places due to the global economic crisis and the recent food and energy price increases. We commit to intensifying our efforts to achieve results by 2015, especially in lagging regions, fragile states and for vulnerable and historically excluded populations, including women and girls, and to protecting progress by building resilience to economic and environmental shocks.
6. We are concerned about high and volatile international food prices and their impact on vulnerable populations, as well as the longer term risks they pose to growth and poverty reduction. We welcome the responsiveness of the WBG, working with partners including the G20, to help address short- and long-term challenges related to food security and price volatility. We welcome the recommendations in the Development Committee paper, Responding to Global Food Price Volatility and Its Impact on Food Security and urge further action in this area. We welcome the WBG’s stepped-up role in agricultural development and agricultural research, including efforts to strengthen the productivity and resilience of smallholder production. We call on the WBG to pursue innovative solutions to strengthening agricultural productivity, trade, and farmers’ access to markets, as well as private investment and South-South cooperation. Africa is disproportionately affected by shocks and deserves special attention. We stress the crucial role women play in agriculture and the importance of ensuring their needs are addressed. To help meet developing country needs, we recognize the importance of stronger coordinated multilateral action in food and agriculture, including adequately funding the Global Agriculture and Food Security Program (GAFSP), and partnerships involving the UN and other relevant bodies.
7. We welcome the World Development Report (WDR) on Conflict, Security and Development, with its emphasis on the link between conflict resolution and economic development. The WDR has the potential to stimulate significant improvement in the performance of the WBG and other development partners in fragile and conflict-affected states. As part of the international community’s collective effort, the WBG can play a key role in helping countries through a focus on job creation and private sector development, inclusive growth, the development of strong institutions, and the enhancement of security and justice in countries affected by fragility, conflict, organized crime and other forms of violence. We support incorporating lessons from the WDR into WBG policies and operations, including alignment of results and risk management, and provision of incentives to the best qualified staff to serve in these situations. We urge the WBG to be ready to engage early and consistently in fragile and conflict-affected situations within the areas covered by its institutional mandate, and in full coordination with other development partners.
8. We welcome the outcomes of the Cancun meeting on climate change and the WBG’s role as an interim trustee of the Green Climate Fund (GCF). This will help to draw on the WBG’s experience from the Climate Investment Funds and to ensure continuity in climate investment before the GCF becomes operational. We look forward to further progress in this area, including innovative approaches to development and climate change financing, and the Bank’s support for the work of the Transitional Committee in charge of designing the GCF.
9. We welcome ongoing implementation of the WBG’s Post Crisis Directions and actions to modernize the WBG’s structures and operations to reinforce its ability to improve client responsiveness and to deliver, measure, and report on effective results. We welcome the report on presidential selection, which responds to the request for an open, merit-based and transparent selection process, and the report on dual performance feedback as a means to strengthen governance and accountability, bearing in mind the development mandate of the WBG. We welcome the efforts to develop the WBG’s Corporate Scorecard with a view to strengthening the strategic dialogue with shareholders on directions and overall institutional performance. We call on the WBG to continue to promote staff diversity to better reflect its global nature.
10. We extend our sympathy and support to the government and people of Japan as they grapple with the impact of the recent natural disasters.
11. The Development Committee’s next meeting is scheduled for September 24, 2011, in Washington DC.

Washington, DC
September 24, 2011

Development Committee Communiqué

Joint Ministerial Committee of the Boards of Governors of the Bank and the Fund on the Transfer of Real Resources to Developing Countries

1. The Development Committee met today, September 24, 2011, in Washington DC.
2. We note with concern the turbulence in global financial markets and widespread fiscal strains, which put at risk the robustness and sustainability of global economic recovery. Volatile commodity prices and pressures on food security are critical challenges. We are alert to the possible global impacts of these issues, particularly for the poor. While developing countries have been the main contributors to recent global economic growth, the economic crisis has reduced their capacity to withstand further shocks. We commit to do everything within our means to support strong, sustainable, balanced and inclusive growth in all our member countries. We reaffirm the need to work cooperatively to meet our development commitments to achieve the Millennium Development Goals by 2015 and to support the poor in developing and emerging countries through this period of instability, as well as in the long term. We commend the G20 for anchoring development in its agenda.
3. Jobs are vital in translating growth into lasting poverty reduction and broad-based economic opportunities. We reiterate our commitment to job creation, especially by supporting the expansion of a vibrant private sector. In this connection, we recognize the important role IFC and MIGA play in poorer countries and in challenging markets. We welcome and encourage the cooperation of the World Bank Group (WBG) with member governments and other partners, such as the G20, the International Labor Organization and the International Monetary Fund (IMF), to pursue a comprehensive approach to job creation for women and men. We look forward to discussing the next World Development Report (WDR) on jobs.
4. The WBG must continue to help member countries build resilience and respond to crises. To do this effectively, the WBG must remain prepared with human, knowledge and financial capacity. We welcome the WBG’s enhanced focus on innovative approaches to support countries in the Middle East and North Africa region to address the social and economic consequences of their current transition. We call on the WBG to scale up support and strengthen collaboration with all relevant stakeholders, in particular other Multilateral Development Banks.
5. We are saddened by the scale of human tragedy caused by the drought and famine in the Horn of Africa. We welcome the WBG’s $1.88 billion contribution to tackling the crisis and its underlying causes, including $250 million from the recently created IDA Crisis Response Window, as well as the steps the IMF is taking to provide additional concessional financing. An emergency of this magnitude needs swift, coordinated and effective international action to save as many lives and livelihoods as possible. We also need to build national capacity and resilience to speed recovery, reduce the risk of future disasters and create longer-term solutions. We must put agriculture and food security at the top of our development priorities. To do this, we need to harness the creativity and resources of the private sector. We call for continued innovation to tackle longer-term challenges, including climate change and infrastructure investment.
6. We strongly welcome the WBG’s World Development Report on Gender Equality and Development and its clear message that equality between women and men is smart economics and an essential ingredient in poverty reduction. We agree that the WDR has important lessons globally and that gender equality requires specific action from governments, the private sector and development partners. To this end, we endorse the recommendations for the WBG set out in the accompanying implications note and look forward to reviewing its implementation in a year. We urge the WBG to integrate further equality between women and men into its operations and reporting, working within its mandate and respecting national values and norms.
7. We welcome progress the WBG has made in institutional reform to meet new challenges. Greater transparency through the Open Data, Open Knowledge, Open Solutions Initiative and improved accountability via the new Corporate Scorecard will contribute to a more efficient and effective WBG. We call on the WBG to continue to promote staff diversity. We urge the WBG to maintain the momentum on its modernization agenda and look forward to discussing further progress at our next meeting.
8. We welcome the addition of the 25th Chair to the WBG Boards and look forward to a proposal in the spring to align the Development Committee with the new structure.
9. We thank Mr. Ahmed bin Mohammed Al Khalifa for his valuable leadership and guidance as Chairman of the Committee during the past two years.
10. The Development Committee’s next meeting is scheduled for April 21, 2012, in Washington DC.

Annex 4 
Operational Highlights and Key Financial Indicators
for the IMF for Fiscal Year 2011

In FY2011, the flow of IMF disbursements (purchases) exceeded the flow of repayments (repurchases) for the third year in a row. FY2011 saw an increase in both purchases and repurchases.

IMF Resource Flows as of April 30
(millions of SDRs)

	FY2010	FY2011
Purchases	21,087	26,616
Extended Credit Facility1 (ECF) loans	1,402	914
Total disbursements	22,488	27,529
Repurchases	275	2,268
ECF repayments	489	1,144
Total repurchases and repayments	764	3,412
Note: Numbers may not add due to rounding. 1 Formerly Poverty Reduction and Growth Facility (PRGF).

The IMF’s outstanding credit continued to grow in FY2011, increasing significantly from FY2010, primarily due to increases in purchases under (use by members of) Stand-By Arrangements and the Extended Fund Facility.

Outstanding Credit by Facility and Policy as of April 30
(millions of SDRs)

	FY2010	FY2011
Stand-By Arrangements	40,758	60,126
Extended Fund Facility	447	5,186
Precautionary Credit Line	–	197
Supplemental Reserve Facility	–	–
Compensatory and Contingency  Financing Facility	33	31
Systemic Transformation Facility	–	–
Subtotal, General Resources Account	41,238	65,539
Structural Adjustment Facility Arrangements	9	9
Extended Credit Facility/Exogenous  Shocks Facility (ESF) Arrangements1	5,037	4,807
Trust Fund	66	66
Total	46,349	70,421
Note: Numbers may not add due to rounding. 1 Formerly PRGF-ESF Arrangements.

Annex 5 
Active IMF Lending Arrangements as of December 31, 2011

Please see the IMF 2011 Annual Report for detailed data regarding the policies and finances of the IMF. All data referenced in this annex can be found in the appendices of the IMF 2011 Annual Report.

IMF Lending Arrangements as of December 31, 2011
(millions of SDRs)

Member	Date of Arrangement	Expiration	Total Amount Agreed	Undrawn Balance
Stand-By Arrangements
Angola	November 23, 2009	February 22, 2012	859	86
Antigua and Barbuda	June 7, 2010	June 6, 2013	81	54
Bosnia and Herzegovina	July 8, 2009	June 30, 2012	1,015	676
Dominican Republic	November 9, 2009	March 8, 2012	1,095	328
El Salvador	March 17, 2010	March 16, 2013	514	514
Greece	May 9, 2010	May 8, 2013	26,433	8,891
Honduras	October 1, 2010	March 31, 2012	65	65
Iraq	February 24, 2010	February 23, 2012	2,377	1,307
Jamaica	February 4, 2010	May 3, 2012	821	279
Kosovo	July 21, 2010	January 20, 2012	93	74
Maldives	December 4, 2009	December 3, 2012	49	41
Romania	March 31, 2011	March 30, 2013	3,091	3,091
Serbia, Republic of	September 29, 2011	March 28, 2013	935	935
Sri Lanka	July 24, 2009	July 23, 2012	1,654	551
St. Kitts and Nevis	July 27, 2011	July 26, 2014	53	30
Ukraine	July 28, 2010	December 27, 2012	10,000	7,750
Total			49,132	24,673
Extended Fund Facility
Armenia, Republic of	June 28, 2010	June 27, 2013	133	63
Ireland	December 16, 2010	December 15, 2013	19,466	8,415
Moldova, Republic of	January 29, 2010	January 28, 2013	185	105
Portugal	May 20, 2011	May 19, 2014	23,742	12,239
Seychelles	December 23, 2009	December 22, 2012	20	7
Total			43,546	20,830
Flexible Credit Line
Colombia	May 6, 2011	May 5, 2013	3,870	3,870
Mexico	January 10, 2011	January 9, 2013	47,292	47,292
Poland, Republic of	January 21, 2011	January 20, 2013	19,166	19,166
Total			70,328	70,328
Precautionary and Liquidity Line1
Macedonia, former Yugoslav Republic of	January 19, 2011	January 18, 2013	413	216
Grand total			163,419	116,047
Poverty Reduction and Growth Trust
Extended Credit Facility2
Afghanistan	November 14, 2011	November 13, 2014	85	73
Armenia	June 28, 2010	June 27, 2013	133	59
Benin	June 14, 2010	June 13, 2013	74	42
Burkina Faso	June 14, 2010	June 13, 2013	46	19
Burundi	July 7, 2008	January 31, 2012	51	5
Comoros	September 21, 2009	September 20, 2012	14	6
Congo, Democratic Republic of	December 11, 2009	December 10, 2012	346	148
Côte d’Ivoire	November 4, 2011	November 3, 2014	390	309
Djibouti	September 17, 2008	June 16, 2012	13	3
Ghana	July 15, 2009	July 14, 2012	387	119
Grenada	April 18, 2010	April 17, 2013	9	6
Guinea-Bissau	May 7, 2010	May 6, 2013	22	7
Haiti	July 21, 2010	July 20, 2013	41	25
Kenya	January 31, 2011	January 30, 2014	489	288
Kyrgyz Republic	June 20, 2011	June 19, 2014	67	48
Lesotho	June 2, 2010	June 1, 2013	42	28
Liberia	March 14, 2008	March 31, 2012	248	4
Malawi	February 19, 2010	February 18, 2013	52	38
Mali	December 27, 2011	December 26, 2014	30	30
Mauritania	March 15, 2010	March 14, 2013	77	33
Moldova, Republic of	January 29, 2010	January 28, 2013	185	45
São Tomé and Principe	March 2, 2009	March 1, 2012	3	2
Sierra Leone	July 1, 2010	June 30, 2013	31	13
Tajikistan, Republic of	April 21, 2009	April 20, 2012	104	26
Yemen, Republic of	July 30, 2010	July 29, 2013	244	209
Total			3,183	1,586
Exogenous Shocks Facility
0 Arrangements
Standby Credit Facility
Honduras	October 1, 2010	March 31, 2012	65	65
Soloman Islands	December 6, 2011	December 3, 2012	5	5
Total			70	70
Grand total			3,253	1,656
Note: Numbers may not add due to rounding. 1 Formerly Precautionary Credit Line. 2 Formerly Poverty Reduction and Growth Facility. Source: IMF Finances.

 

Annex 6 
Operational Highlights and Key Financial Indicators for the World Bank Group for Fiscal Year 2011

International Bank for Reconstruction and Development
(millions of US dollars)

	FY2010	FY2011
Administrative expenses	1,421	1,457
Operating income	800	1,023
Total assets	281,835	313,871
Fiscal-year commitments	44,197	26,737
Gross disbursements	28,855	21,879
Undisbursed loans	63,574	64,435
Principal repayments including prepayments	11,624	13,885
Net disbursements	17,231	7,994
Equity-to-loans ratio (per cent)	29	29
Sources: The World Bank Group Annual Report (2011) and IBRD financial statements (2011).

 

International Development Association
(millions of US dollars)

	FY2010	FY2011
Net income	-1,077	-2,332
Development credits outstanding	113,474	125,287
Fiscal-year commitments	14,550	16,269
Gross disbursements	11,460	10,282
Principal repayments	2,349	2,501
Net disbursements	9,111	7,781
Sources: The World Bank Group Annual Report (2011) and IDA financial statements (2011).

 

International Finance Corporation
(millions of US dollars)  

	FY2010	FY2011
Administrative expenses	664	700
Net income	1,946	2,179
Total assets	61,075	68,490
Committed portfolio	38,864	42,828
Fiscal-year commitments	12,664	12,186
Number of projects	528	518
Loan and equity investments, net	25,944	29,934
Sources: IFC Annual Report (2011) and IFC financial statements (2011).

 

Multilateral Investment Guarantee Agency
(millions of US dollars)

	FY2010	FY2011
Administrative and other expenses	36	41
Operating income	34	24
Total assets	1,166	1,463
Statutory underwriting capacity	12,177	12,817
Fiscal-year guarantees issued	1,464	2,099
Number of new projects	16	35
Net exposure	4,296	5,239
Return on operating capital, before provisions (per cent)	1.4	3.8
Source: MIGA Annual Report (2011).

Annex 7 

IBRD Loans and IDA Credits—Summary Statistics for Fiscal Year 2011
(millions of US dollars)

	IBRD Amount	IDA Amount	Total Amount
By Region
Africa	55.9	7,004.1	7,060.0
East Asia and Pacific	6,369.6	1,627.4	7,997.0
Europe and Central Asia	5,470.0	654.7	6,124.7
Latin America and the Caribbean	9,169.4	459.8	9,629.2
Middle East and North Africa	1,941.9	122.8	2,064.7
South Asia	3,730.4	6,399.6	10,130.0
Total	26,737.1	16,268.5	43,005.7
By Theme
Economic Management			654.6
Environmental and Natural Resources Management			6,102.4
Financial and Private Sector Development			7,978.8
Human Development			4,227.9
Public Sector Governance			4,517.7
Rule of Law			169.2
Rural Development			5,636.2
Social Development, Gender and Inclusion			907.9
Social Protection and Risk Management			5,690.6
Trade and Integration			2,606.7
Urban Development			4,513.8
Total			43,005.7
By Sector
Agriculture, Fishing, and Forestry			2,127.7
Education			1,733.2
Energy and Mining			5,807.4
Finance			896.6
Health and Other Social Services			6,706.8
Industry and Trade			2,166.8
Information and Communication			640.3
Law and Justice and Public Administration			9,672.5
Transportation			8,637.8
Water, Sanitation, and Flood Protection			4,616.7
Total			43,005.7
Of which IBRD			26,737.1
Of which IDA			16,268.5
Note: Numbers may not add due to rounding. Source: The World Bank Group Annual Report (2011).

Annex 8 

Projects Approved for IBRD and IDA Assistance in Fiscal Year 2011
(millions of US dollars)

	IBRD		IDA		Total
Region and Country	No.	Amount	No.	Amount	No.	Amount
Africa
Africa (regional)			16	976	16	976
Angola			1	120	1	120
Benin			3	120	3	120
Burkina Faso			4	220	4	220
Burundi			3	67	3	67
Cameroon			2	59	2	59
Cape Verde			2	20	2	20
Central African Republic			3	57	3	57
Chad			2	52	2	52
Comoros			1	2	1	2
Congo, Democratic Republic of			6	260	6	260
Congo, Republic of			1	10	1	10
Ethiopia			1	630	1	630
Gambia, The			1	12	1	12
Ghana			6	605	6	605
Guinea			1	78	1	78
Guinea-Bissau			4	23	4	23
Kenya			4	490	4	490
Lesotho			2	33	2	33
Liberia			4	100	4	100
Madagascar			1	42	1	42
Malawi			4	271	4	271
Mali			4	163	4	163
Mauritania			2	23	2	23
Mozambique			7	413	7	413
Niger			4	232	4	232
Nigeria			4	535	4	535
Rwanda			4	151	4	151
São Tomé and Príncipe			1	4	1	4
Senegal			3	158	3	158
Seychelles	1	9			1	9
Sierra Leone			4	38	4	38
Swaziland	2	47			2	47
Tanzania			5	420	5	420
Togo			4	65	4	65
Uganda			4	345	4	345
Zambia			4	210	4	210
Total	3	56	122	7,004	125	7,060
East Asia and Pacific
Cambodia			3	68	3	68
China	14	1,740			14	1,740
Indonesia	8	2,243			8	2,243
Kiribati			1	20	1	20
Lao People’s  Democratic Republic			3	45	3	45
Mongolia			3	66	3	66
Papua New Guinea			5	101	5	101
Philippines	3	319			3	319
Samoa			1	10	1	10
Solomon Islands				3		3
Thailand	1	1,000			1	1,000
Timor-Leste			2	25	2	25
Tonga			2	10	2	10
Vietnam	4	1,068	8	1,280	12	2,348
Total	30	6,370	28	1,627	58	7,997
Europe and Central Asia
Albania	1	25			1	25
Armenia	5	126	1	37	6	163
Azerbaijan	2	39		86	2	125
Belarus	2	180			2	180
Bosnia and Herzegovina			1	10	1	10
Central Asia (regional)			1	21	1	21
Croatia	2	242			2	242
Georgia	2	44		52	2	95
Kazakhstan	3	127			3	127
Kosovo			3	33	3	33
Kyrgyz Republic			6	136	6	136
Latvia	1	142			1	142
Macedonia, former  Yugoslav Republic of	1	19			1	19
Moldova			3	67	3	67
Montenegro		6				6
Poland	1	1,115			1	1,115
Romania	2	1,091			2	1,091
Russian Federation	2	125			2	125
Serbia, Republic of	2	500			2	500
South Eastern Europe and  the Balkans (regional)	1	10			1	10
Tajikistan			4	32	4	32
Turkey	4	1,370			4	1,370
Ukraine	1	200			1	200
Uzbekistan	1	110	2	181	3	291
Total	33	5,471	21	655	54	6,125
Latin America and the Carribean
Argentina	8	2,221			8	2,221
Belize	1	15			1	15
Bolivia, Plurinational State of			2	160	2	160
Brazil	10	2,538			10	2,538
Colombia	3	315			3	315
Dominican Republic	1	150			1	150
El Salvador	2	150			2	150
Guatemala	2	132			2	132
Guyana			2	14	2	14
Haiti			4	78	4	78
Honduras			3	111	3	111
Jamaica	1	15			1	15
Mexico	5	2,754			5	2,754
Nicaragua			3	51	3	51
OECS1 countries (regional)			2	27	2	27
Panama	2	155			2	155
Paraguay	1	100			1	100
Peru	9	525			9	525
St. Lucia			1	15	1	15
St. Vincent and the Grenadines			1	5	1	5
Uruguay	1	100			1	100
Total	46	9,169	18	460	64	9,629
Middle East and North Africa
Djibouti			1	6	1	6
Egypt, Arab Republic of	3	630			3	630
Lebanon	2	240			2	240
Morocco	3	480			3	480
Tunisia	3	592			3	592
Yemen, Republic of			3	117	3	117
Total	11	1,942	4	123	15	2,065
South Asia
Afghanistan			4	262	4	262
Bangladesh			7	2,139	7	2,139
Bhutan			1	25	1	25
India	7	3,469	6	2,072	13	5,541
Maldives				12		12
Nepal			5	253	5	253
Pakistan	2	261	8	1,292	10	1,553
South Asia (regional)		0	3	140	3	140
Sri Lanka		0	3	205	3	205
Total	9	3,730	37	6,400	46	10,130
Grand total	132	26,737	230	16,269	362	43,006
Note: Data include guarantees. Supplemental and additional financing operations (except for projects scaled up through additional financing) are not counted as separate lending operations, although they are included in the amount. Joint IBRD-IDA operations are counted only once as IBRD operations. A blank space indicates zero. 1 Organization of Eastern Caribbean States.

Annex 9 
World Bank Group Procurement From Canada 

Disbursements by IBRD and IDA Borrowers:
Goods and Services From Canada
(millions of US dollars)

By World Bank Fiscal Year (July 1 – June 30)	Amount
2006–07	51.9
2007–08	58.8
2008–09	50.8
2009–10	77.5
2010–11	44.8
Note: Based on World Bank figures as of February 13, 2012.

 

Disbursements by IBRD and IDA Borrowers:
Suppliers of Goods and Services From Canada
(US dollars)

Supplier	Sector	Category	ID	Amount
Willam Maynard	Agriculture	Consultant Services	P064886	59,780
Brant Kirychuk	Agriculture	Consultant Services	P096993	64,169
William Adams	Agriculture	Consultant Services	P064886	120,000
Tecsult/AECOM	Agriculture	Consultant Services	P073397	147,371
Financière agricole du Québec	Agriculture	Consultant Services	P105256	224,797
CIMA International	Agriculture	Consultant Services	P105176	834,793
Alliance agricole internationale/GID	Agriculture	Consultant Services	P081704	1,943,415
Alliance agricole internationale/HND-SETADE	Agriculture	Consultant Services	P081704	2,049,463
CECI-Centre canadien d'étude  et de coopération internationale	Agriculture	Consultant Services	P093640	8,009,171
Thierno Hamidou Bah	Education	Consultant Services	P099918	62,100
Ravi Venkataraman	Education	Consultant Services	P086308	78,936
Russell Boals	Energy & mining	Consultant Services	P109736	51,250
Ken Beck Lee	Energy & mining	Consultant Services	P106832	64,960
Jacques Corbin	Energy & mining	Consultant Services	P097974	85,656
Mr. W. Hilary Lee	Energy & mining	Consultant Services	P064844	89,666
Mr. W. Hilary Lee	Energy & mining	Consultant Services	P071591	89,666
Agriteam Canada Consulting Ltd.	Energy & mining	Consultant Services	P108768	119,700
rePlan Inc.	Energy & mining	Consultant Services	P097635	199,993
RSW International Inc./Genex	Energy & mining	Consultant Services	P104456	253,628
OPTEC Energy Services Inc.	Energy & mining	Consultant Services	P113266	328,910
Survalent Technology Corporation	Energy & mining	Goods	P082337	369,898
Klimpt, Jean Étienne	Energy & mining	Consultant Services	P104456	417,849
Louis Cabot, Ing., MSc	Energy & mining	Consultant Services	P104456	504,508
SNC Lavalin International of Canada	Energy & mining	Consultant Services	P075941	2,573,527
Dario Vins	Finance	Consultant Services	P108080	39,579
Alan Curd	Finance	Consultant Services	P090673	79,531
CON-TEST	Health & social serv	Consultant Services	P117604	4,820
Robert F. Woolard	Health & social serv	Consultant Services	P113341	10,847
Frederic Martin	Health & social serv	Consultant Services	P109760	24,800
Canadian Society for International Health	Health & social serv	Consultant Services	P101928	34,030
Charles A. Jeanneret	Health & social serv	Consultant Services	P077326	43,200
Maria Sol Modesto	Health & social serv	Consultant Services	P104794	134,400
Centre hospitalier de l'Université de Montréal	Health & social serv	Consultant Services	P101928	637,620
Canadian Society for International Health	Health & social serv	Consultant Services	P101928	925,617
Canadian Society for International Health	Health & social serv	Consultant Services	P101928	931,453
CECI-Centre canadien d'étude  et de coopération internationale	Health & social serv	Consultant Services	P123205	1,299,999
ESD China Limited	Health & social serv	Consultant Services	P086446	1,517,280
Canadian Society for International Health	Health & social serv	Consultant Services	P101928	3,305,755
Roger Daviss Pipe	Industry and trade	Consultant Services	P088045	38,120
Estey Center for Law and Economics  in International Trade	Industry and trade	Consultant Services	P106165	109,900
MacPherson Telecom Consulting	Info & communication	Consultant Services	P115844	120,000
Kevin S. Lim	Public admin, Law	Consultant Services	P108078	22,416
Gerard Verger	Public admin, Law	Consultant Services	P090265	32,031
Ravi Venkataraman	Public admin, Law	Consultant Services	P101156	48,246
Franke Toornstra	Public admin, Law	Consultant Services	P104041	80,083
Manmohan Rupria	Public admin, Law	Consultant Services	P114922	82,500
William Radburn	Public admin, Law	Consultant Services	P071063	100,000
Hasim Al-Ali	Public admin, Law	Consultant Services	P092484	116,867
Steve Gilbert	Public admin, Law	Consultant Services	P110616	120,000
IDEA International	Public admin, Law	Consultant Services	P114672	120,400
Gerard Verger	Public admin, Law	Consultant Services	P090265	201,228
Serge A. Bouchard	Public admin, Law	Consultant Services	P104041	235,894
CRC Sogema	Public admin, Law	Consultant Services	P104041	326,980
Cowater International Inc.	Public admin, Law	Consultant Services	P111184	506,590
Insurance Technology Group	Public admin, Law	Consultant Services	P090418	581,740
Agriteam Canada Consulting Ltd.	Public admin, Law	Consultant Services	P089733	616,405
CRC Sogema	Public admin, Law	Consultant Services	P104041	1,435,986
Dr. Mohammad Zaman	Transportation	Consultant Services	P111017	132,000
Jacobs Consultancy	Transportation	Consultant Services	P101201	342,720
IBI Group	Transportation	Consultant Services	P100589	543,905
SNC Lavalin International Inc.	Transportation	Consultant Services	P111153	1,038,200
IBI Group	Transportation	Consultant Services	P034038	1,062,283
SNC Lavalin International Inc.	Transportation	Consultant Services	P120895	1,197,820
Aeronav Inc.	Transportation	Goods	P078389	3,464,212
Schlumberger Canada Limited	Water/sanit/fld prot	Goods	P093132	25,199
Jacques Corbin	Water/sanit/fld prot	Consultant Services	P097974	92,926
4M Global	Water/sanit/fld prot	Consultant Services	P070736	204,900
RSW International Inc.	Water/sanit/fld prot	Consultant Services	P114467	699,560
rePlan Inc.	Water/sanit/fld prot	Consultant Services	P108143	1,269,538
Veritec Consulting Inc.	Water/sanit/fld prot	Civil Works	P103881	2,137,948

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