The European Bank for Reconstruction and Development (EBRD) will provide a EUR 75m loan to Ronesans Holding’s hospital subsidiary Ronesans Saglik Yatirim AS, according to a statement from the EBRD.
The financing will be used for the company’s public-private partnership (PPP) hospital investments in the country. Most of the loan will be used to finance capital expenditure for the investments by the firm, with the remainder to be used for corporate purposes.
“This project will support the company in strengthening its hospital infrastructure investments. In due time, it should enable Ronesans to become the country’s largest platform for the development of social infrastructure and PPPs, while enhancing the company’s financial resilience and sustainability credentials,” said Arvid Tuerkner, EBRD Managing Director for Turkey.
Ronesans Saglik Yatirim AS will complete the newly acquired hospital projects already in its portfolio. The company currently has five operational hospital projects in progress, on a combined construction area of 3.2 million square meters and a total capacity of 7,100 beds. The firm is expected to reach a total capacity of 9,000 beds when all of its projects are completed.
“Loans such as these also enable us to broaden our focus on sustainability. We aim to keep carbon emissions to a minimum by using best-in-class efficient technologies in our new investments, including for hospital infrastructure, industry, and energy,” said Ipek Ilicak Kayaalp, Chairwoman of the Board of Directors of Ronesans Holding.
The EBRD has invested over EUR 17.2bn in various sectors of the country’s economy, almost entirely in the private sector, in Turkey since 2009. The bank’s EUR 7.3bn Turkey portfolio is the largest among the 38 economies where the bank invests.
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