VPC is a wholly-owned subsidiary of Vodafone Group and leads purchasing and supplier management for Vodafone as a whole. Vodafone Group is a global leading Mobile Network Operator (“MNO”) with operational footprint in 21 countries across Europe, Africa, and Asia. Vodafone is listed on the London Stock Exchange and NASDAQ with majority of shares in free float held by retail and institutional investors.

The proposed project entails IFC providing up to US$ 100 million in sustainable supply chain financing under the IFC’s GTSF program for VPC’s suppliers in emerging markets.

Emerging markets, including India, China, Romania and other emerging market countries.

Overall Corporate Governance (“CG”) risk is low. VPC is a wholly-owned subsidiary of Vodafone Group which is listed on London Stock Exchange and NASDAQ. Vodafone complies with listing rules and regulations, including CG requirements and disclosure rules.

This is a Category B project according to IFC's Policy on Environmental and Social Sustainability (2012) because the proposed project is expected to have limited adverse E&S impacts that are few, site specific, largely reversible, and readily addressed through existing mitigation measures. Key E&S aspects relate to telecom equipment supply chain, mainly handheld devices. Key issues are linked to labor practices including forced labor, occupational health and safety (OHS), wages, overtime, grievance mechanism, and overall safe and fair employment conditions.