Gaziantep Hospital PPP (EBRD-45199)

Countries
  • Turkey
Where the impacts of the investment may be experienced.
Financial Institutions
  • 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
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
Oct 19, 2016
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
GAZIANTEP HASTANE SAGLIK HIZMETLERI ISLETME YATIRIM ANONIM SIRKETI A.S.
The holder of the loan, grant, or other investment.
Sectors
  • Education and Health
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 87.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported 80 EUR
Converted using 2016-10-19 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS May 3, 2017

Disclosed by Bank Aug 26, 2016


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Project Description
The EBRD is financing the infrastructure of an integrated health campus, a public private project (PPP), in the province of Gaziantep, Turkey pursuant to a 28 years concession awarded by Turkey's Ministry of Health. The project will include the design, construction equipment and maintenance of the health campus. Under this PPP structure, the Concessionaire will supply and maintain the hospital facilities, while the provision of medical care and services will remain the responsibility of the Ministry of Health. Total Project Costs are estimated at ca. EUR 600 million.
Investment Description
  • European Bank for Reconstruction and Development (EBRD)
The client is Gaziantep Hastane Saglik Hizmetleri isletme Yatirim Anonim Sirketi A.S., a special purpose company that will supply and maintain hospital facilities under the PPP scheme, while the provision of medical care will remain the responsibility of the Ministry of Health. The client is owned by Samsung C&T Corporation, Kayi Insaat Sanayi ve Ticaret A.S., Salini Impregilo S.p.A. and a private equity investment fund ("PEIF"). The investors in the PEIF comprise mostly Korean and Turkish institutional investors.
Contact Information
Gaziantep SPV, Chief Operation Officer: Valeria Travaglini v.travaglini@salini-impregilo.com +90 212 2846080/1 http://gaziantepihcproject-com.jimdo.com ACCOUNTABILITY MECHANISM OF EBRD The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.