Shifa International Hospitals Limited is a public listed health services company in Pakistan. The Company is a leading healthcare provider in Pakistan operating a quaternary care hospital in Islamabad and two smaller hospitals in Islamabad and Faisalabad, along with a network of laboratory pick up points, external pharmacies and referral centres.  All shares of the Company are floated on the Pakistan Stock Exchange. Of the total 2,185 shareholders, 69.74% are individuals, while the rest are financial, joint stock and insurance companies. As of June 30, 2018, the top three shareholders are Tameer-e-Millat Foundation, which holds 14.24% stake, Mrs. Kulsoom Zaheer Ahmed holding 9.88% stake and Mathews Emerging Asia Fund holding 5.01% stake in the Company.                                                

The investment plan of Shifa is estimated at US$81 million equivalent. IFC is proposed to take an up to 12% equity stake in the Company and provide up to US$14 million equivalent in loans to partially fund the investment plan in Pakistan and Tanzania.

 Project location is the cities of Islamabad and Faisalabad in Pakistan and Dar es Salaam in Tanzania.

This is a Category B project according to IFC’s Policy on Environmental and Social Sustainability as the E&S impacts are mostly site specific and localized and can be avoided or mitigated by adhering to generally recognized performance standards, guidelines or design criteria and adequately managed through the implementation of an expansion work specific Environmental and Social Management Plan.

Lands (plots) for establishment of day surgery centre at Islamabad and new hospital at Faisalabad, Pakistan have been already acquired by the Company, whereas the expansion work will be limited within the premises of the existing flagship hospital. The hospital at Dar es Salaam, Tanzania would be established in an already constructed building which is owned by the Company’s local partner.  The shell and core including external finishing of the building are complete and all the technical drawings including Architectural, Electrical, Mechanical, Plumbing, Fire Fighting, Medical Gases, Furniture and Stairs Pressurization as required for a hospital are complete. All project sites are located within urbanized areas and no significant or major adverse impacts on biodiversity or natural resources are anticipated at this stage. Mitigation measures for the potential environmental and social impacts are identified and incorporated into the attached Environmental and Social Action Plan (ESAP).

Specific environmental and social issues identified include: i) project sponsor’s corporate level overarching policy and a framework for establishing and monitoring EHS&S management systems at project level, ii) E&S due diligence of incineration ash disposal site and of building acquired for establishment of hospital at Tanzania, and iii) adequacy of the Life and Fire Safety (LFS) systems at the SIH facilities to comply with the WBG EHS guidelines.