Istanbul Ikitelli Integrated Health Campus (MIGA-3565)

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
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.
Voting Date
Jul 18, 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
Sojitz Hospital PPP Investment B.V.
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 Amount (USD)
$ 127.00 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 Jun 16, 2017


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Project Description
Sojitz Hospital PPP Investment B.V. of the Netherlands has applied for MIGA guarantees of up to ¥14.0 billion (US$127 million) for an equity investment and shareholder loan into the Istanbul Ikitelli Integrated Health Campus Project in Turkey. The guarantees, available for up to 20 years, provide coverage against the risks of transfer restriction, expropriation and breach of contract. The project involves the development of a 2,682-bed hospital campus in the Çekmece region of Istanbul, Turkey under a 28.5-year construction, finance, maintenance and transfer agreement. The health campus will have a general hospital, women's hospital, children's hospital, cardiovascular hospital, oncology hospital, psychiatric hospital, neurologic and orthopedic science hospital, and physical therapy and rehabilitation facilities. 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 to five projects, namely the Adana, Yozgat, Elazig, Gaziantep, and Bursa Integrated Health Campuses.
Investment Description
  • Multilateral Investment Guarantee Agency (MIGA)
Contact Information
No project contacts provided. 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/