Xuechun Li is the Project Sponsor and majority shareholder of the Company with 90 percent beneficial ownership interest in the Company. Mr. Li founded Minsheng group in 1998 and then established the predecessor of Chongqing College of Humanities, Science and Technology with Southwestern Normal University in 2000 and established Pass College of Chongqing Technology and Business University with Chongqing Technology and Business University in 2003. Mr. Li’s long history as an operator of private higher education institutions has made him a well-recognized figure in the sector and he was recognized as the National Education Industry Model Worker by the Ministry of Education in 2014.

The Project is located in Chongqing and Inner Mongolia, China.

The investment has been classified as Category B according to IFC’s Policy on Social and Environmental Sustainability as adverse environmental and social risks and impacts arising from the projects are limited, generally site specific and could be addressed through the implementation of Good International Industry Practice (GIIP). Key issues and impacts identified during appraisal, discussed in more detail in the following paragraphs, include: E&S management system development and implementation; labor and working conditions including occupational health and safety during construction and operation; waste management; and community health and safety including life and fire safety management associated with the public access buildings at project campuses.