IFC requires that this document is made available through the World Bank InfoShop and to the locally affected community no less than 30 days prior to project consideration by the IFC Board of Directors. The Summary of Project Information (SPI) also provides details of where the ERS has been made available to the locally affected community. The SPI must be sent to World Bank InfoShop no less than 30 days prior to project consideration by the IFC Board of Directors.

This is a Category B project according to IFC’s Procedure for Environmental and Social Review of Projects because a limited number of specific environmental impacts may result that can be avoided or mitigated by adhering to generally recognized performance standards, guidelines or design criteria. The review of this project consisted of appraising technical environmental and social information submitted by the project sponsor. The following potential environment, health and safety and social impacts of the projects were analyzed. - Development land use planning and permitting; - Project compliance with permitting requirements; - General worker health and safety; and - Life and Fire Safety Master Plans.

The sponsor has presented plans to address these impacts to ensure that the proposed project will upon implementation of the specific agreed measures, comply with the environmental and social requirements - the host country laws and regulations and the World Bank/IFC environment and social policies and the environmental, health and safety guidelines. The information about how these potential impacts will be addressed by the sponsor/project is summarized in the paragraphs that follow. [Further information is provided in the attached documentation.] - Development land use planning and permitting. The environmental impact study (EIA) for the Multiplaza Panamericana project was approved along with specific requirements for the project on 7 January 1997 by the office of the mayor of San Salvador and Antiguo Cuscatlan and by OPAMSS (an inter institutional team made up of OPAMSS, SEMA, mayors offices mentioned, ANDA, CEPRI, MOP, and Multidesarrolos SA de CV) on 11 April 1997. Site environmental and social conditions (including land use, air emissions, wastewater and solid waste management, power and water supply) were addressed in the project EIA and other documentation. In 1999 the project resumed and, in order to comply with new environmental regulations, it was required to obtain an environmental permit and to have an Environmental Management Program designed to implement the mandatory environmental impact mitigation measures described in the environmental study. In November 1999 the original Environmental Impact Study was updated and a general environmental management program was prepared for Stage I, Phase I, Corporate Zone. With these documents complete, the environmental permit to develop the Multiplaza Panamericana project was granted by the Ministry of Environment and Natural Resources by resolution (MARN Number 172-2000) on 18 July 2000. - Compliance with permitting requirements. The general environmental management program for the Multiplaza Panamericana addresses actions required to mitigate projected large-scale environmental impacts for the development. It is the environmental management plan for the programmatic EIA for the overall development. This program provides guidance for the preparation of specific environmental management programs for each stage of the project. Stage-specific environmental management plans must be developed and approved prior to commencement of each stage. Accordingly, Metrocentro will, in compliance with the attached corrective action plan, submit an approved environmental management plan for Phase I of the Multiplaza Panamericana project in which they are currently involved and for all subsequent phases in which they invest. - General worker health and safety. Development of various project phases and continuing development entails extensive investigation and construction contracting to achieve the aims of planned developments. Metrocentro will ensure that contract specifications for contracted services and the operation of all of its properties incorporate mandatory occupational heath and safety programs so that contractor and employee programs will at all times comply with IFC occupational health and safety guidelines. - Life and fire safety. A life and fire safety master plan will be prepared for the Multiplaza Panamericana shopping mall that is currently under construction. Metrocentro will undertake a system-wide life and fire safety evaluation of its existing properties and implement the requirements of IFC’s guidelines for all its properties in accordance with the attached CAP.

The following supporting documents provide further details of environmental and/or social issues: Corrective Action Plan.

Accordingly, IFC concludes that the proposed project will meet the applicable World Bank/IFC environment and social policies and the environmental, health and safety guidelines upon successful implementation of the agreed mitigation measures.

IFC will evaluate the project's compliance with the applicable environmental and social requirements during the lifetime of the project by reviewing the annual monitoring reports (AMRs) prepared for the project covering: - the status of implementation of all measures contained in the Environmental and Social Corrective Action Plan and - ongoing implementation of environmental management programs for the Multiplaza Panamericana project and the company's future investments with similar requirements. Periodic site supervision visits will also be conducted.