10/21/2016

Turkey on healthy footing with financing of city hospital project

Daily Sabah - The signing ceremony for the financing agreement of Turkey’s two new city hospital projects in Izmir and Kocaeli was held at the Presidential Complex in Ankara.

 

Accordingly, Gama Holding, Türkler Holding, and General Electric will participate in the project, with USD 1.1 billion in external financing coming in part from the Overseas Private Investment Corporation (OPIC), the Export Development Canada, and the European Bank for Reconstruction and Development (EBRD) which will provide credits with 18-year terms.

 

Speaking at the signing ceremony for the financing agreement, President Recep Tayyip Erdoğan said, “Progress in healthcare services will bring about development in the healthcare industry in Turkey. With these investments, we aim to make our country one of the top 5 countries in the world for medical tourism.” Stating that the city hospitals project has been his dream for 14 years, Erdoğan acknowledged that 29 city hospitals with a combined capacity of 41,000 beds will be built by 2019 at a total investment cost of TRY 30 billion.

 

Mentioning the role of the Investment Support and Promotion Agency of Turkey (ISPAT) in streamlining investment processes in Turkey, Erdoğan reiterated that all governmental institutions and organizations are ready to assist international investors. “Our doors and hearts are wide open for those who see Turkey's potential and believe in its nation", he noted. Defining the city hospitals project as one of the most outstanding examples of private-public-partnership, Erdoğan added, “Where there is stability and confidence, there are joint projects by the private and public sectors.”

 

Meanwhile, General Electric Turkey President and CEO Canan Özsoy stated during the ceremony that it is a great source of pride to commission hospital campuses in these two important Turkish cities, adding that all partners are fully committed to the agreement along with Turkey. Furthermore, OPIC Regional Director Danielle Montgomery said that the agreement is a concrete sign of the US's friendship with Turkey and the Turkish people. According to Montgomery, the USD 250 million provided by OPIC means more than just a hospital investment; but is rather a sign of confidence in Turkey's future. So far, Turkey has carried out tenders or concluded agreements for 21 city hospitals in different parts of the country.

hospital; investment; turkey; infrastructure; ppp

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