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

Countries
  • Turkey
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
Proposed
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
Government of Turkey
The holder of the loan, grant, or other investment.
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, etc.
Investment Amount (USD)
$ 224.60 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 224.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. 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, converted to USD$. 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, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ AIIB website

Updated in EWS Jul 13, 2020

Disclosed by Bank Jul 8, 2020


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Project 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
  • Asian Infrastructure Investment Bank (AIIB)
  • European Bank for Reconstruction and Development (EBRD)
  • 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

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.