entire package to the CD for a formal Decision Meeting. Decision Meeting The RVP or his/her designee convenes a CD Within 3 days decision meeting to review the package. of circulation of Unless the meeting concludes that the project documents is not for further processing, the decision meeting authorizes the TL to proceed with negotiations with the borrower. Minutes of the meeting record clearances provided by FM, PR and LOA and any conditions for agreement with borrower. Circulation of minutes of TL clears with the chair and circulates minutes TL Objections meeting of meeting on a no objection basis. submitted within 1day Finalization of Based on the Decision Meeting’s TT and lawyer Within 3 days negotiations package recommendations, the TL works closely with from meeting, the lawyer, Finance Officer and fiduciary staff unless to finalize the negotiations package, including additional work a revised EPP, draft legal documents and the with borrower is disbursement letter, ISDS, and PID. required Submission of PID and TL submits PID and ISDS to Infoshop TL ISDS to Infoshop Invitation to negotiate TL sends the negotiations package to the TL borrower with an invitation to negotiate and informs SECBO in writing of the schedule Negotiations Draft Legal Agreements are agreed and At negotiations, TL minutes of negotiations are signed. the TL also to (a) obtain from the borrower the authorization of signature, (b) arrange for signature of Statutory Committee and (c) discuss with the borrower the format of the legal opinion. TL also obtains from borrower information about the Designated Account information. Finalize Board package TL and lawyer finalize the package based TL/lawyer 2 on minutes of negotiations. Board approval RVP (or CD, where delegated) submits Board RVP’s (or CD’s) Documents are package to SECBO for Board approval on a office sent to 10 streamlined basis. days before Board
entire package to the CD for a formal Decision Meeting. Decision Meeting The RVP or his/her designee convenes a decision meeting to review the package. Unless the meeting concludes that the project is not for further processing, the decision meeting authorizes the TL to proceed with negotiations with the borrower. Minutes of the meeting record clearances provided by FM, PR and LOA and any conditions for agreement with borrower. CD Within 3 days of circulation of documents Circulation of minutes of meeting TL clears with the chair and circulates minutes of meeting on a no objection basis. TL Objections submitted within 1day Finalization of negotiations package Based on the Decision Meeting’s recommendations, the TL works closely with the lawyer, Finance Officer and fiduciary staff to finalize the negotiations package, including a revised EPP, draft legal documents and the disbursement letter, ISDS, and PID. TT and lawyer Within 3 days from meeting, unless additional work with borrower is required Submission of PID and ISDS to Infoshop TL submits PID and ISDS to Infoshop TL Invitation to negotiate TL sends the negotiations package to the borrower with an invitation to negotiate and informs SECBO in writing of the schedule TL Negotiations Draft Legal Agreements are agreed and minutes of negotiations are signed. At negotiations, the TL also to (a) obtain from the borrower the authorization of signature, (b) arrange for signature of Statutory Committee and (c) discuss with the borrower the format of the legal opinion. TL also obtains from borrower information about the Designated Account information. TL Finalize Board package TL and lawyer finalize the package based on minutes of negotiations. TL/lawyer 2 Board approval RVP (or CD, where delegated) submits Board package to SECBO for Board approval on a streamlined basis. RVP’s (or CD’s) office Documents are sent to 10 days before Board
RR_to_Crises_&_Emergencies_Procedural_Guideline_06_28_2010ReadOnly.docx