Kocaeli Hospital PPP (EBRD-47406)

Countries
  • Turkey
Where the impacts of the investment may be experienced.
Specific Location
Izmit District, Kocaeli Province
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
Jun 22, 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
Kocaeli Hastane Yatirim ve Saglik Hizmetleri A.S.
The holder of the loan, grant, or other investment.
Sectors
  • Construction
  • Education and Health
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)
$ 70.76 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 EUR 62,700,000.00
Converted using 2017-06-22 exchange rate.
Project Cost (USD)
$ 460.08 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported EUR 407,681,953The total project cost is estimated
Converted using 2017-06-22 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Aug 10, 2017

Disclosed by Bank May 19, 2016


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Project Description
This project finances the design, construction, equipping, financing, and maintenance of an integrated health campus in Izmit District of Kocaeli Province, Turkey. This will be a public-private-partnership (PPP) project, with a 28-year concession.
Investment Description
  • European Bank for Reconstruction and Development (EBRD)
The EBRD is providing an A loan of EUR 20 million, and a B loan of up to EUR 42.7 million. Kocaeli Hastane Yatirim ve Saglik Hizmetleri A.S. is a special purpose company established by a consortium of private companies to design, build, finance, lease and operate the Kocaeli Hospital PPP in Izmit District of Kocaeli Province, Turkey, for an operation period of 25 years following a construction period of 3 years. The consortium is comprised of Turkerler Insaat A.S. (Turkerler), GAMA Holding A.S. (GAMA) and GE Healthcare (GEHC) group company.
Contact Information
Yalcin Eliguzeloglu yalcin.eliguzeloglu@gama.com.tr +90 312 248 4883 http://www.kohas.com.tr/tr 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.