This is a Category B project according to IFC’s Policy on Environmental and Social Sustainability because a limited number of specific environmental and social impacts may result which can be avoided or mitigated by adhering to generally recognized performance standards, guidelines or design criteria.

E&S Performance: The company has materially implemented the E&S Action Plan for the existing investment and has been regularly reporting to IFC through annual monitoring reports and regular updates. One of the on-going actions under the E&S Action Plan is related to developing a detailed plan involving multiple solution themes such as automation, manpower reorganization with an objective to improve worker efficiency and optimize their working hours. The company has committed to complete this implementation by December 2021. Based on IFC’s supervision visits and review of information shared by the company, the E&S performance has been satisfactory till date.

For the purpose of the review of investment, IFC relied on observations during the supervision visits (last one in April 2019) and updates from the company on. As there is no change in the footprint, no separate visits were required.

New E&S Risks: As all assets of the company are already covered and supervised as part of the existing investment, and no new project is expected to be constructed with the use of proceeds of the COVID19 RSE facility, therefore, there will be no new additional E&S risks due to this project. The agreement of the new investment will include similar requirement as previous agreement on compliance with IFC Performance Standards.