Ronesans Holding A.S. (IFC-36747)

  • Turkey
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Bank Risk Rating
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.
The holder of the loan, grant, or other investment.
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 215.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Other Related Projects
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 29, 2017

Disclosed by Bank Mar 21, 2016

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Project Description
Ronesans Holding A.S., ("RHOL", or "the Group"), is a well-known company with operations in the construction, real estate development, healthcare private public partnerships ("PPP"), and energy sectors. IFC is considering to invest up to US$ 215 M in the form of either equity, quasi-equity, quasi-loan or loan in RHOL. IFC's investment will help the Group expand its activities in Africa, the Middle East and the Caucuses Region (Armenia, Azerbaijan, Georgia and Russia), and (ii) strengthen its sectoral presence in infrastructure (including energy investments), Turkish real estate and healthcare PPPs.Headquartered in Ankara, Turkey; RHOL is currently operating in 17 countries, including Turkey, Russia, Turkmenistan, Belarus, Kazakhstan, Azerbaijan, Iraq, Qatar, Gabon, Nigeria, , Mozambique, Germany, Austria, Finland, the Netherlands, Sweden and Switzerland.
Investment Description
All Group companies are consolidated under RHOL which is 95% owned by Mr. Erman Ilicak, and 2.5% each by Bahar and Ipek Ilicak. As founder and main shareholder, Erman Ilicak started his venture in Saint Petersburg, Russia as a construction engineer. RHOL is currently operating in 17 countries including Turkey, Russia, and various other developing countries in the wider- CEU region.

Contact Information
Selin Oner – - +90 216 430 60 00 Emre Burak Yilmaz – - +90 312 441 31 41 ACCOUNTABILITY MECHANISM OF IFC 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 You can learn more about the CAO and how to file a complaint at