PROJECT

Projects

Environmental & Social Review Summary

Project Number

46563

Company Name

EASTCASTLE INFRASTRUCTURE DRC S.R.L.U.

Date ESRS Disclosed

Jan 19, 2023

Country

Congo, Democratic Republic of

Region

Africa

Last Updated Date

Oct 19, 2023

Environmental Category

B - Limited

Status

Active

Previous Events

Approved : Mar 31, 2023
Signed : Jun 23, 2023
Invested : Oct 17, 2023

Sector

Engineering Services

Industry

Telecommunications and Technology

Department

Regional Industry - INF Africa

Project Description

Eastcastle Infrastructure Limited (“Eastcastle”) was established in 2020 and is focused on the construction and operation of shared telecom towers and related infrastructure in various countries across Sub-Saharan Africa including Nigeria and Democratic Republic of Congo (DRC) (https://ecinfras.com/).  

 

In June 2021, IFC supported the formation of Eastcastle with a US$24 million equity investment (https://disclosures.ifc.org/enterprise-search-results-home/eastcastle). IFC are now proposing a further US$30 million debt facility from IFC’s own account and up to US$50 million through a B-Loan and Parallel Loans in Eastcastle Infrastructure DRC (“Eastcastle DRC” or “the Company”). The debt funding will be utilized for the acquisition and construction of a portfolio of Built-To-Suit (BTS) and transmission towers in DRC which will be leased to mobile network operators in the country. (“the Project”).

Overview of IFC's Scope of Review

IFC’s review focused on appraising environmental, health and safety (EHS) and social-related information and risks associated with Eastcastle DRC’s operations, adoption, and implementation of the existing Eastcastle environmental and social (E&S) management system (ESMS), and local management capacity vis à vis the inherent risks for the sector and context of the operations. Documentation provided by Eastcastle included Environmental Impact Assessments (EIA) for greenfield sites, the E&S due diligence process for brownfield sites, employee handbook, site selection process, and monthly monitoring reports (MMR).

 

The appraisal included discussions with Eastcastle senior management on November 7, 2022, including the chief operating officer, group head of safety, health, environment, risk, and quality (SHERQ), and the operations manager.

E & S Project Categorization and Applicable Standard

Environmental and Social Mitigation Measures

Stakeholder Engagement

Broad Community Support

Environmental & Social Action Plan