Ronesans Bond (EBRD-47840)

  • Turkey
Geographic location 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
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Dec 9, 2015
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Education and Health
  • Finance
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 34.16 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 31 million
Converted using 2015-12-09 exchange rate.
Project Cost (USD)
$ 67.22 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 61 million
Converted using 2015-12-09 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Aug 10, 2017

Disclosed by Bank Jan 29, 2016

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.
The Bank has invested 100 million (EUR 31 million equivalent) in Ronesans Holding A.S. recent TRY 200 million (EUR 61 million equivalent) bond issue. This issue is part of Ronesans TRY 500 million bond programme, of which TRY 335 million has been placed to date. The most recent issue had a tenor of three years. The proceeds from the Bank's participation are envisaged to go towards Ronesans' equity commitment under the Elazig Hospital PPP project and refinancing a portion of the existing bonds.
Investment Description
Here you can find a list of individual development financial institutions that finance the project.
RONESANS HOLDING is a joint stock company incorporated in Turkey. Rönesans is a diversified conglomerate/holding based company with activities in construction, real estate and energy founded in 1993. It operates in Turkey, Russia and various other developing countries in the CIS and MENA regions. Rönesans has started to engage in social infrastructure sector and formed a joint venture with Meridiam Infrastructure Fund to construct and maintain 6 PPP healthcare campus projects reaching a capacity of 9,500 beds.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.
Erdem Kurumsak; Emre Baki; Selin Öner; Emre Burak Yilmaz;;; +90 312 441 3141 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 or you can submit a complaint online using an online form, You can learn more about the PCM and how to file a complaint at

How it works

How it works