Turkey: COVID-19 Medical Emergency Response (MER) Project (AIIB-000424)

Countries
  • Turkiye
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Infrastructure Investment Bank (AIIB)
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Aug 27, 2020
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Government of Turkey
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Education and Health
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Grant, Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 82.60 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Loan Amount (USD)
$ 82.60 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Grant Amount (USD)
$ 0.56 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 224.60 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ AIIB website

Updated in EWS Jun 29, 2021

Disclosed by Bank Jul 8, 2020

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to AIIB website, the project aims to support the Government of Turkey in strengthening its healthcare emergency response against the COVID-19 crisis in public hospitals across the country. 

The Project will have the following components:

Component 1- Strengthening National Health system for Emergency COVID-19 Response by upgrading designated pandemic hospitals in Istanbul and public hospitals across Turkey through procurement of medical equipment (co-financed by AIIB and EBRD); and

Component 2-Project Management Support as well as Gender and Economic Inclusion (financed by EBRD only).

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

  • AIIB loan: EUR 70 million (USD 78.4 million equivalent)

  • EBRD loan: EUR 130 million (USD 145.6 million equivalent)

  • EBRD grant: EUR 0.5 million (USD 0.56 million equivalent)


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

BORROWER: Ministry of Treasury and Finance, Turkey

Izzet Yerdes, General Directorate of Foreign Economic Relations

izzet.yerdes@hmb.gov.tr

IMPLEMENTATION AGENCY: Ministry of Health

Zahide Senalp, Director, Project Management Support Unit

zahide.senalp@saglik.gov.tr

Asian Infrastructure Investment Bank

Woo-Hyun Kwon, Senior Investment Operation Specialist

woohyun.kwon@aiib.org

European Bank for Reconstruction and Development

Idil Gursel, Associate Director

gurseli@ebrd.com

ACCOUNTABILITY MECHANISM OF AIIB

In addition, the AIIB has a Bank Oversight Mechanism. According to AIIB's policies, "people who believe they have been or are likely to be adversely affected by a failure of the Bank to implement the ESP may also submit complaints to the Bank's oversight mechanism in accordance with the policies and procedures to be established by the Bank for such mechanism." However, at the time of writing, it is unclear what the exact scope and function of this Oversight Mechanism will be.

How it works

How it works