Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Turkey
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • European Bank for Reconstruction and Development (EBRD)
Status: Pending
Bank Risk Rating: U
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.
Board Decision Date: 2017-04-05
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 or Client: BRS SAGLIK YATIRIM A.S.
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Education and Health
  • Infrastructure
Investment Type(s): Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD): $ 327.00 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 300
Converted using 2017-05-03 exchange rate.
Project Cost (USD): $ 560.00 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 513
Converted using 2017-05-03 exchange rate.

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Primary Source

Original disclosure @ EBRD website
Updated in EWS: 2017-05-03
Disclosure Date: 2016-08-12
Bursa Hospital PPP
EBRD-48535

Project Description
The EBRD is considering financing a hospital infrastructure PPP project involving the design, construction, equipping, financing, and maintenance of an integrated health campus in Bursa, Turkey, pursuant to a 28-year concession awarded by Turkey's Ministry of Health. 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 MoH. Total project costs are estimated at around EUR 513 million. The EBRD will assist in increasing private sector participation in the hospital infrastructure sector in Turkey. In response to the need for large capacity investments in healthcare systems, the government is seeking to tap private sector resources and know-how to construct and manage infrastructure related facilities more rapidly and more efficiently, while medical service provision remains under the responsibility of the state.
Investment Description
The client is BRS Saglik Yatirim A.S., a special purpose company incorporated in Turkey and owned by Ronesans Saglik Yatirim A.S., Meridiam Infrastructure Eastern Europe S.a.r.l., Sila Consulting Medical Services, Sam Engineering and TTT Saglik Hizmetleri A.S. The client is responsible for designing, building, financing and operating the Bursa Hospital PPP, whilst MoH will remain responsible for the provision of medical care and services. The EBRD is planning to arrange an A/B loan of up to EUR 300 million (up to EUR 75 million A-loan, up to EUR 225 million B-loan). The Bank will provide finance in parallel with international financing institutions and commercial banks alongside the sponsors' equity commitments under an 80:20 debt-to-equity structure.The EBRD will assist in increasing private sector participation in the hospital infrastructure sector in Turkey. The consortium of sponsors includes Ronesans Saglik Yatirim A.S., Meridiam Infrastructure Eastern Europe S.a.r.l., Sila Consulting Medical Services, Sam Engineering and TTT Saglik Hizmetleri A.S. who are active across various hospital PPPs in Turkey, including the Adana and Elazig campuses.
Contact Information
Meridiam Umut Aydin 4, place de l'Opera, 75002, Paris, France +33 153 34 96 96 u.aydin@meridiam.com Ronesans Sabri Can Bozkurt Aziziye Mah. Portakal Cicegii Sokak No: 33 Y. Ayranci, 06540 Ankara, Turkey +90 312 441 31 41 can.bozkurt@ronesans.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.