Funding to develop Basaksehir Cam ve Sakura City Hospital, Istanbul

 

The €1.6 billion hospital was built under a public-private partnership (PPP) in the Istanbul district of Basaksehir.

In response to the pandemic, part of the new hospital complex opened in April 2020 to treat the rising number of COVID-19 patients.

The hospital was developed and built by a joint venture between Turkey’s Ronesans Healthcare and Japan’s Sojitz Corporation.

The EBRD funds will replace short-term loans from local banks that Ronesans Healthcare used to finance its equity contribution to the PPP project. Access to longer-term financing will strengthen the financial resilience of this key hospital developer and operator.

As part of its cooperation with the EBRD, the company supports the improvement of employment opportunities for women in technical positions and is conducting a gender audit of the hospital facilities to improve women’s access to healthcare services.

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