61.5% shareholding in Borets is owned by Tangent Fund Limited (“Tangent”), a Cayman Islands fund, while the remaining 38.5 % is held by Weatherford, one of the largest products and services provider for oil and natural gas production. Borets is a privately held company with operations in more than 10 countries. Tangent is privately-held while Weatherford is publicly-listed.

Project cost is estimated to be US$736 million. IFC considers providing an A loan or making a bond investment of up to US$50 million for its own account, mobilize a B loan of up to US$130 million and making an equity investment of up to US$21 million.

18.0 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan
Equity	18.0

* These investment figures are indicative

This is a corporate loan and there is no particular project location. The Company has various plants, service centers, and offices inside and outside of Russian Federation.

1. South South investment: The project will support international expansion efforts of Borets which includes other emerging markets

2. Development of new technologies: The project will help Borets develop new and more efficient technolgies.

3. Increased tax revenues for the government: The project will lead to higher revenues and profitability which will translate into a higher tax revenues for the government.

1-Support the sucess of Eurobond issuance: Having IFC as an anchor investor may increase the probability of success for Borets. 2-Mobilization: IFC may help the Company with mobilizing funds from international lenders.

Indicator	Metrics	Comments	Calendar Year 2022	Calendar Year 2023	Calendar Year 2024
Organizational capacity and Management Programs(%)	Organizational capacity and Management Programs(%)		Not Available	Not Available	Not Available
Stakeholder Engagement(%)	Stakeholder Engagement(%)		Not Available	Not Available	Not Available
Human Resources Policies and Procedures(%)	Human Resources Policies and Procedures(%)		Not Available	Not Available	Not Available
Occupational Health and Safety(%)	Occupational Health and Safety(%)		Not Available	Not Available	Not Available
Affected communities protection(%)	Affected communities protection(%)		Not Available	Not Available	Not Available

While all Performance Standards (“PS”) are applicable to this investment, IFC’s environmental and social (E&S) due diligence indicates that the investment will have impacts which must be managed in a manner consistent with PS 1-4.



PS1: Assessment and Management of Environmental and Social Risks and Impacts

PS2: Labor and Working Conditions

PS3: Resource Efficiency and Pollution Prevention

PS4: Community Health, Safety, and Security



IFC’s due diligence did not identify project issues related to matters covered by PS 5: Land Acquisition and Involuntary Resettlement; PS 6: Biodiversity Conservation and Sustainable Management of Living Natural Resources, PS 7: Indigenous People and PS 8: Cultural Heritage. Project-related land acquisition was and will only be undertaken via willing seller/ willing buyer negotiations. Therefore, this is a Category B project according to IFC’s Environmental and Social Sustainability Policy. In the event that issues anticipated by PS 5-8 arise, the Company will engage with IFC to ensure these are adequately addressed.



Key E&S risks and impacts associated with the Project include: i) the capacity of the corporate E&S management system to identify, assess and manage risks and impacts; ii) labor and working conditions including occupational health and safety (“OHS”); iii) air emissions; iv) waste and wastewater management; and v) social impacts on nearby communities. The Company has presented plans to address E&S risks and impacts to ensure that the Project will comply with the environmental and social requirements of host countries’ laws and regulations, IFC’s Performance Standards, and the World Bank Group EHS Guidelines

Please refer to the related Environmental and Social Review Summary (ESRS) document for this project.

Please refer to the Environmental and Social Action Plan (ESAP) tab in the related Environmental and Social Review Summary (ESRS) document for this project.