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$2,900,000.00 (Project budget includes all project-funded activities)
Last Updated Date
Feb 14, 2025
Project Estimated Start Date
Aug 28, 2023
Project Estimated End Date
Jun 30, 2025
Project Description
IFC will provide transaction advisory assistance to the Sri Lanka’s State-Owned Enterprise Restructuring Unit, under the Ministry of Finance, Economic Stabilization and National Policies, to assist it in preparing a transparent and competitive bidding process for the divesture of Government of Sri Lanka’s stake in Sri Lanka Telecom PLC.
Development Results
The successful implementation of the Project is expected to result in mobilization of private sector investment in the telecom sector of Sri Lanka and contribute to the Government of Sri Lanka efforts to enhance competitiveness, productivity, and socioeconomic development.
Indicator
Cumulative
Number of reports accepted by client
0
Number of successful bids
0
Number of strategic partners/investors selected
0
Number of agreements (concession, etc.) signed
0
Number of bids conducted
0
Number of reports (assessments, surveys, manuals, Phase I/strategic option reports, research, analytical, evaluations, etc.) completed
null
E&S Risks / Impacts and Mitigation
Performance Standard
Description and Potential Impact
Mitigation
PS 4. Community Health, Safety and Security
As part of its Due Diligence, and as mandated by IFC's Sustainability Policy, IFC will screen this project for risk(s) related to
PS4 against IFCs Performance Standards. Risks and mitigation measure will be confirmed during IFCs Due Diligence process.
IFC's advice will be provided in a manner consistent with the principles of PS4. The IFC team will advise the client, as the
final decision maker, on IFC's Performance Standards and in defining appropriate mitigation measures.
PS 1. Assessment and Management of Environmental and Social Risks and Impacts
As part of its due diligence and as mandated by IFC's Sustainability Policy, the IFC team has screened this Project to assess
consistency with IFC's Performance Standards.
IFC's advice will be provided in a manner consistent with the principles of the relevant Performance Standards. The IFC team
will assist the Client as the final decision maker in gaining a good understanding of IFC's Performance Standards.
PS 2. Labor and Working Conditions
As part of its Due Diligence, and as mandated by IFC's Sustainability Policy, IFC will screen this project for risk(s) related to
PS2 against IFCs Performance Standards. Risks and mitigation measure will be confirmed during IFCs Due Diligence process.
IFC's advice will be provided in a manner consistent with the principles of PS2. The IFC team will advise the client, as the
final decision maker, on IFC's Performance Standards and in defining appropriate mitigation measures
PS 3. Resource Efficiency and Pollution Prevention
As part of its Due Diligence, and as mandated by IFC's Sustainability Policy, IFC will screen this project for risk(s) related to
PS3 against IFC's Performance Standards. Risks and mitigation measure will be confirmed during IFCs Due Diligence process.
IFC's advice will be provided in a manner consistent with the principles of PS3. The IFC team will advise the client, as the
final decision maker, on IFC's Performance Standards and in defining appropriate mitigation measures.
Press-Release
Additional Documents
Similar Projects
This Summary of Advisory Services Project Information (ASPI) is prepared by IFC to disclose a factual summary of the main elements of this advisory services project. It may also include findings and recommendations related to environmental and social considerations regarding this project. The purpose of the ASPI is to enhance the transparency of IFC's activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the client. IFC considers that this ASPI is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein. It is distributed within sixty days of project's approval and may be updated periodically afterwards. Total budget and start dates are estimates only. The following ASPI is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.
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