EBRD offers €147.5m funding for hospital project in Turkey

WCN Editorial Team 25 Feb 2016 ASIA, EUROPE, MIDDLE EAST BUILDINGS

The European Bank for Reconstruction and Development (EBRD) has provided funding for the development of a €318m hospital in Konya, in the central Anatolian region of Turkey.

EBRD has arranged a syndicated loan worth €147.5m under its A/B loan structure, under a long-term financial package. Out of this amount, €67.5m will be for the bank’s own account while the remaining will be syndicated to UniCredit Bank Austria and Siemens Financial Services.

 

The project has also received a funding of €50m from the Black Sea Trade and Development Bank and €67.5m from Islamic Development Bank.

 

Set to become operational in 2019, the new facility will be designed, built, equipped and managed by private developer ATM Saglik Konya Yatirim ve Isletme.

 

The developer will serve as facilities manager and will offer building maintenance and non-clinical services, with the Ministry of Health responsible for medical services.

 

The hospital complex will include multiple buildings with a total of 838 beds. The buildings will be leased to Turkey’s Ministry of Health as part of a 28-year concession.

 

EBRD acting director for municipal and environmental infrastructure Susan Goeransson said: “The EBRD’s goal is to demonstrate new successful financing structures of public-private partnership (PPP) projects.

 

“We are pleased to see new lenders joining the scheme and our PPP model being replicated by commercial banks in other projects. We believe that this comprehensive joint effort will further improve quality of life in Turkey.”

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