PROJECT

Projects

Environmental & Social Review Summary

Project Number

48232

Company Name

IBUS NETWORK AND INFRASTRUCTURE PRIVATE LIMITED

Date ESRS Disclosed

Apr 30, 2024

Country

India

Region

South Asia

Last Updated Date

Aug 9, 2024

Environmental Category

B - Limited

Status

Active

Previous Events

Approved : Jun 12, 2024
Signed : Jul 19, 2024
Invested : Jul 30, 2024

Sector

Other (Including Satellite Telecommunications, Radio and Television Broadcasting, etc.)

Industry

Telecommunications and Technology

Department

Regional Industry - INF Asia & Pac

Project Description

The proposed IFC transaction is an equity investment of up to US$35 million in iBus Network and Infrastructure Private Limited (“iBus”, or the “Company”) which provides host-neutral in-building connectivity solutions (IBS) in India and serves hospitality customers through managed Wi-fi services (MWS). IFC investment will be used to buy secondary shares of existing investors in order to provide non-commercial risk mitigation and capacity building on areas including Environmental, Social and Governance.

For more company information, see their Internet site here: https://ibusglobal.com/

The proposed project involves a significant expansion of outdoor connectivity technologies in densely populated areas in 70+ cities in India, and indoor connectivity technologies in areas like metro stations, airports, and tunnels, as well as Wi-Fi in hotels, education campuses, hospitals, and malls.

Overview of IFC's Scope of Review

IFC E&S due diligence included in person site visits to iBus corporate office, and a sample of company In-Building connectivity Solutions (IBS) and Managed Wi-fi Services (MWS) operations in Bangalore on 19-22 June 2023. IFC met with iBus managers and various technical specialists including the Heads of Human Resources (HR) and Environment, Social, and Governance (ESG). IFC reviewed an iBus investor’s Annual E&S Monitoring report (May 2023) that evaluated company performance against IFC Performance Standards (PS). IFC also reviewed iBus ESG Management System, Human Resources (HR), and Health and Safety related policies and programs, among others.       

E & S Project Categorization and Applicable Standard

Environmental and Social Mitigation Measures

Stakeholder Engagement

Broad Community Support

Environmental & Social Action Plan