Bilkent Laboratory PPP (EBRD-48799)

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
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
May 24, 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
CCN LABORATUAR HIZMETLERI VE YONETIM A.S.
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 Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 80.00 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 EUR 75,000,000.00
Converted using 2017-03-31 exchange rate.
Project Cost (USD)
$ 786.28 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 735,000,000.00
Converted using 2017-03-31 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Aug 10, 2017

Disclosed by Bank Mar 30, 2017


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Project Description
This involves financing of the infrastructure of an integrated laboratories campus consisting of various administration buildings and different laboratories including different levels of BSL and ABSL laboratories, a public private project (PPP), in the province of Ankara, Turkey pursuant to an 18 years concession awarded by Turkey's Ministry of Health. The project will include the design, construction, equipment and maintenance of the facilities for the provision of products and services for Turkish Public Health Institution (TPHA) and Turkish Medicine and Medical Equipment Institution (TPMDA). Under this PPP structure, the Concessionaire will supply and maintain the research laboratories, while the provision of the research services within the laboratories will remain the responsibility of the Ministry of Health. Total Project Costs are estimated at ca. EUR 720 million.
Investment Description
  • European Bank for Reconstruction and Development (EBRD)
The client is CCN Laboratuar Hizmetleri ve Yonetim A.S., a special purpose company incorporated in Turkey and owned by CCN Yatirim Holding A.S. CCN Yatirim Holding A.S. established to operate in construction, real estate, tourism and education sectors in addition to investment and operation of Healthcare PPP Projects. Company is one of the biggest players in Healthcare PPP with 5000 beds capacity in Turkish healthcare sector. The client is responsible for designing, building, financing and operating the Bilkent Laboratory PPP, whilst MoH will remain responsible for the provision of research services within the laboratories.
Contact Information
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.