12/8/2016

IFC to invest in healthcare facilities in Türkiye

The International Finance Corporation (IFC), a member of the World Bank Group, announced a new bond issuance in Türkiye. The EUR 80 million bond will be used to fund healthcare facilities in Türkiye’s Elazığ province.

 

According to World Bank Group officials, the bond will mature in 20 years and will reach EUR 288 million in total. This financing method is unique in Türkiye as it is the first project bond financing of a hospital under a public-private partnership scheme. The bond is also the first green project bond in Türkiye.

 

The proposed healthcare facilities in Elazığ covered by this bond are part of Türkiye’s broader city hospitals project. Within the scope of that project, 29 city hospitals with a combined capacity of 41,000 beds will be built by 2019 in Türkiye at a total investment cost of TRY 30 billion. IFC officials said that successful issuance of the bond will allow other healthcare projects to generate similar long-term financing opportunities.

Image of a Hospital Bed
ifc; turkey; investment; bond; health