Up to EUR 200 million sovereign loan to the Republic of Turkey, for the benefit of the Ministry of Health (MoH), to finance the purchase of ventilators and ICU monitors, and other emergency medical equipment urgently needed in public hospitals to fight the Covid-19 pandemic. The project will be subject to the EBRD's standard approval procedures and accordingly, the structure, size and/or use of proceeds may be subject to change. Any financing by the Bank will be subject to formal approval, inter alia, by the Bank's management and Board of Directors, negotiation and execution of appropriate financing documentation and fulfilment of applicable conditions precedent.
The project aims to support the Government of Turkey in uplifting its healthcare emergency response in public hospitals across the country and to help the emergency response efforts against the Covid-19 crisis. The loan proceeds will be used to equip Turkey's existing and new public hospitals built to provide adequate and timely healthcare services to the pandemic patients.
The project supplements the ICU bed capacity in the country, including in Istanbul pandemic hospital in Yesilkoy. This pandemic hospital along with other Covid-19 hospitals will remain in service for possible future waves of Covid-19 cases, as well as other emergencies related to earthquakes, risk of which is particularly high in the country and requires ample sector capacity.
The project reduces the funding gap of the government's emergency health programme and is complementary to other loans provided by IFIs in the country to fight the pandemic.
ETI score: 60
The project contributes to the "resilient" quality by providing financing to strengthen the resilience of the health system amid the Covid-19 pandemic. This investment will allow the health sector to respond more effectively to the crisis and build capacity to respond to other health emergencies in the future.
The project also contributes to the "inclusive" quality by aiming to improve and upgrade training provision for healthcare workers in Turkey and strengthen gender equality in the sector, building on a close mutual coordination with MoH.
The Ministry of Health will be the beneficiary of the loan and is responsible for proposing and executing government policy on health, planning and providing healthcare and protecting patients. The Ministry of Treasury and Finance will be the borrower and represents the Republic of Turkey.
EBRD Finance Summary
A sovereign loan with a grace period of 2-3 years and a tenor of up to 12-15 years.
Total Project Cost
The the loan will be provided in parallel with a World Bank crisis response - a sovereign loan to the health sector which helps reduce the funding gap for the government's response programme. The EBRD's collaboration with the World Bank ensures complementarity and efficient project implementation.
The Bank is additional thanks to:
-Policy, sector, institutional, or regulatory change
-Standard-setting: helping projects and clients achieve higher standards
Environmental and Social Summary
Categorised B under the 2019 Environmental and Social Policy. Key Environmental & Social (E&S) risks and impacts to consider include: infection management, health and safety risks for patients, medical staff, laboratory staff and communities in due course of handling of tests, medical waste management and E&S management of the Ministry of Health. E&S due diligence will be undertaken by the Bank's E&S specialists and will include a review of the Environmental and Social Due Diligence (ESDD) carried out recently by the World Bank for a similar project in Turkey; questionnaires and interviews.
ESDD will also review any key risks associated with the construction of the new pandemic hospital in Istanbul.
This section of PSD will be updated once the ESDD is completed.
Technical Cooperation and Grant Financing
A comprehensive Technical Cooperation (TC) package includes a Gender and Economic Inclusion TC, which aims at fostering an inclusive environment for healthcare workers in close collaboration with MoH, as well as a project implementation support TC, aiming to leverage MoH's implementation capacity for an efficient delivery of the project.
Company Contact Information
Izzet Yerdes (Ministry of Treasury and Finance General Directorate of Foreign Economic Relations)
+90 312 204 73 62
Inönü Bulvari No:36 06510 Emek/Ankara
PSD last updated
22 May 2020
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Environmental and Social Policy (ESP)
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More information on the EBRD’s practices in this regard is set out in the ESP.
Integrity and Compliance
The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all activities of the Bank in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The Bank believes that identifying and resolving issues at the project assessment approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts, and also helps to monitor integrity risks in projects post-investment.
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Access to Information Policy (AIP)
The AIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations following its entry into force on 1 January 2020. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.
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Independent Project Accountability Mechanism (IPAM)
If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).
IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.
Please visit the Independent Project Accountability Mechanism webpage to find out how to submit a Request for review through our confidential online form, by email, mail or telephone. IPAM is available to discuss your concerns and answer any questions you may have about the submission or handling of Requests, which follow the Project Accountability Policy and Guidance. Requesters’ identities may be kept confidential, upon request.