The European Bank for Reconstruction and Development (EBRD) on Wednesday provided a loan of €40 million ($47.5 million) to strengthen the Turkish healthcare sector.
According to a statement by EBRD, the long-term loan, of which €30 million was committed on signing, would be for the private developer of the Basaksehir Cam ve Sakura City Hospital on the outskirts of Istanbul.
The €1.6 billion hospital was built under a public-private partnership (PPP) in the Istanbul district of Basaksehir.
In response to the novel coronavirus pandemic, part of the new hospital complex opened in April to treat the rising number of COVID-19 patients in the country.
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," the statement said.
So far in 2020, EBRD investments in Turkey have exceeded €1 billion.
See all the news
Franco Frattini - Georgia, straying from the rule of law
Letter to the Newsweek Editor: 'Russia Determined to Wield Power in Georgia'
Caspiannews: Georgia’s Actions to Seize Foreign Company Disrupt Telecommunications Corridor Between Europe & Asia
Turkish cable manufacturer Koc Kablo has opened its first factory in Georgia
TBC Bank announces management change
Oil prices fall further on virus fears, U.S. crude stock build
Update on Shuakhevi HPP
Turkey to open doors to 31 countries for health tourism
Statement by Andrius Kubilius on the EU assistance for Georgia
Wine sales have increased 5 times in the UK - Georgian-British startup
Visa informed banks of the mechanism to process transactions with expired cards
Russian Church, which priest tested positive for coronavirus is closed for several days
S&P: Georgia Heads Toward Recession
Gurian Tea "Gamarjoba" will Appear on the Market from September
Coronavirus: Boris Johnson moved to intensive care
Georgian economy grows 2.2% in February
First-Stage Land Usage Permit for APM Terminals Poti
www.stopcov.ge is accessible in minority languages
TBC Bank and OPEC Fund sign a $50 million trade finance loan agreement
How will Nenskra HPP Reduce the Electricity Import?