CREI Phils is a wholly-owned subsidiary of global telecom services group Two Thirty Three Holdings (the “Group”). The Group is owned and managed by co-founders Kadri Hakim and Rami Shibley.

 The total project cost is estimated at US$110.7 million of which IFC will provide US$27.7 million on its own account be in the form of a senior secured loan. IFC will mobilize the rest as a B2 Loan (“B2 Loan”) provided under IFC’s Managed Co-Lending Portfolio Program (“MCPP”) and a B1 parallel or syndicated loan. The balance will be provided through equity and internally generated funds.

 The Project will be located in the Republic of the Philippines.

This is a Category B project according to IFC’s Policy on Environmental and Social Sustainability, as it is expected to have adverse E&S risks and/ or impacts that are limited in scale, few in number, generally site-specific and readily addressed through mitigation measures, by adhering to good international industry practice (GIIP) procedures, guidelines and design criteria, as described in the following sections. Key risks and impacts include the company’s capacity and systems to screen and assess the sites for E&S risks and impacts, and to review and manage E&S performance; management and mitigation of impacts during construction (including emissions to air, greenhouse gases, and noise); labor and working conditions; occupational and community health and safety, during construction and O&M, including risks associated with road traffic and monitoring of electric and magnetic fields (EMF) during operations; and waste and hazardous material management.