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The financial institution is required to establish and maintain a Environmental and Social Management System (ESMS) to manage environmental and social risks and impacts associated with financing activities in a manner consistent with IFC’s Policy on Environmental and Social Sustainability and IFC’s Environmental and Social Review Procedure. To accomplish this and as a function of the potential risks associated with its financing activities, the financial institution is required to adopt IFC’s E&S standards – the applicable IFC environmental and social performance requirements – as part of the ESMS. The applicable performance requirements may include the IFC Exclusion List, national environmental and social regulations and the IFC Performance Standards.

During IFC’s review of the financial institution’s capacity to manage potential environmental and social risks and meet the applicable environmental and social performance requirements, IFC will determine the adequacy of the financial institution’s ESMS, in particular:

As part of the legal agreement with IFC, the financial institution will be required to enhance its ESMS to address any gaps that may have been identified in these areas or to develop an ESMS if none existed previously.

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