Bursa Integrated Health Campus (MIGA-3536)

Countries
  • Turkey
Where the impacts of the investment may be experienced.
Financial Institutions
  • Multilateral Investment Guarantee Agency (MIGA)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
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.
Voting Date
Mar 30, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Meridiam Eastern Europe SARL
The holder of the loan, grant, or other investment.
Sectors
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Guarantee
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 117.50 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ MIGA website

Updated in EWS Jul 24, 2017

Disclosed by Bank Feb 10, 2017


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Project Description
Meridiam Eastern Europe S.a.r.l of Luxembourg has applied for MIGA guarantees of up to €109.8 million (US$117.5 million) for an equity investment and shareholder loan into the Bursa Integrated Health Campus Project in Turkey. The guarantees, available for up to 15 years, provide coverage against the risks of transfer restriction, expropriation and breach of contract. The project involves the development of a 1,355-bed hospital campus in the Bursa province in Northwestern Turkey under a 28.5-year construction, finance, maintenance and transfer agreement. The health campus is expected to have physical therapy and rehabilitation facilities, forensic and psychiatric wards, and technical services buildings. The project is part of the Turkish Health Public-Private Partnership Program (PPP) developed by Turkey's Ministry of Health to reform and modernize public hospital infrastructure in the country. MIGA has previously supported the Health PPP Program by issuing guarantees for the Adana, Yozgat and Elazig Health Integrated Campuses.
Investment Description
  • Multilateral Investment Guarantee Agency (MIGA)
Contact Information
ACCOUNTABILITY MECHANISM OF MIGA The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/