10 November 2015
Promoter – Financial Intermediary
Loan to a Turkish bank for the intermediated financing of a part of the Etlik integrated healthcare campus in Ankara. The project will comprise the design, construction, financing, equipment supply, provision of soft and hard facility management services and provision of some clinical support services under a 27.5-year build-lease-operate-and-transfer agreement of the project company to be financed with the Ministry of Health in Turkey.
The project will improve the urban environment and promote sustainable communities. Lending objectives include improving access to healthcare delivery though implementation of an integrated model of care, as well as improving performance and quality of healthcare and the urban environment and promoting sustainable communities by integrating healthcare appropriately within local settings and supporting the care of patients close to their homes. It will at the same time support the Health Ministry's goal of improving the capacity, quality and distribution of healthcare institutions and ensuring their financial sustainability (in line with its Strategic Plan 2013-2017 - 80% qualified bed target).
The sponsors of the project are the Turkish construction firm Turkerler and the Italian construction firm Astaldi.
Proposed EIB finance (Approximate amount)
EUR 50 million
Total cost (Approximate amount)
EUR 1100 million
The project covers the construction of a large-scale health campus on a brownfield site within an urbanised area. If the project were located within the EU, it would be covered by Annex II of the Environmental Impact Assessment (EIA) Directive (2011/92/EU) with respect to urban development. Based on national legislation, no EIA has been requested by the competent authority. To ensure that the project meets the environmental and social principles and standards of the participating international financial institutions (IFIs, including EIB), the financiers requested an ESIA (environmental and social impact assessment). The EIB will verify during appraisal the outcomes of the ESIA to ensure that the project meets the environmental and social principles and standards of the Bank.
The project was procured under special legislation and was not subject to Turkish procurement law. The tender was subject to Supplementary Article 7 of the Fundamental Law on the Health Services (Law no. 3359) as amended by Law no. 5396, using a negotiated procedure. During appraisal, the EIB will undertake an ex-post review of the procurement procedures and evaluation criteria to ensure their compliance with the Bank's Guide to Procurement.
Signed - 6/05/2016