IFC agrees to $172 million loan to fund Turkey’s hospital plan

ANKARA - Anadolu Agency

The International Finance Corporation (IFC) said on June 25 it has agreed to loan 154 million euros ($172 million) to finance the building of a planned healthcare complex in Ankara.

The IFC, a member of the World Bank Group, said in a statement the loan would fund the 1.1 billion euro ($1.23 billion) integrated campus.

The new campus, which will house eight hospitals with a total of almost 2,500 beds, is part of a health program to improve the country’s public hospital infrastructure through the public-private partnership model (PPP).

“This landmark project is an important milestone in the transformation of Turkey’s healthcare sector, being the largest health campus in the world,” said Serhat İnanç, the CEO of Ankara Etlik Health Services, a company established by the consortium to build and maintain the campus.

“The funding structure indicates increasing confidence among various types of lenders in the PPP model of the Ministry of Health and the consortium partners,” İnanç added.

“Expanding access to high-quality healthcare services for all population groups is a central element of our strategy in Turkey,” Aisha Williams, IFC country manager for Turkey, said. “This is an excellent example of how the private and public sector can work together to make a difference. We hope this will set a positive example for PPPs in other sectors in Turkey.”