Gaziantep Hospital PPP Project

Project description

On April 26, 2023, The Multilateral Investment Guarantee Agency (MIGA) issued , guarantees amounting to EUR 121.5 million in support of equity and quasi-equity investments made by Meridiam Eurasia SAS of France (Meridiam) into Gaziantep Healthcare Hospital Property Yatirim A.S. (the Project Enterprise or PE), established to manage the Gaziantep Hospital PPP Project under a 28-year Project Agreement, originally signed in 2013. The guarantees are issued for a period of 15 years and cover the risks of breach of contract and war & civil disturbance.

Environmental Categorization

This project has been categorized as B according to the MIGA Policy on Environmental and Social Sustainability (2013). Click here to view the updated Environmental & Social Review Summary (ESRS) prepared by MIGA in connection with Meridiam’s investment in the Project.

Development impact

MIGA’s support of Meridiam’s entry into the Project, in which MIGA is already involved by virtue of the coverage extended to previous investors in 2017, will ensure the realization of the project’s critical development impacts. Given the chronic need for quality healthcare services in this particular area of the country, and in light of the unprecedented level of loss of life and property which followed the Feb 6th earthquake that shook the entire region, the Gaziantep PPP Hospital Project is even more crucial. It will benefit populations stricken by, not only this most recent tragic natural disaster, but also chronically and longstanding needs of population ones on both sides of the Turkish-Syrian border.

MIGA’s proposed coverage to Meridiam is aligned with the World Bank Group’s Country Partnership Framework for Türkiye. It also meets MIGA’s FY2021-23 Strategy’s emphasis on continuing to serve all client countries, including non-IDA/FCS and middle-income countries, given the large share of the global poor residing in middle-income countries and their high levels of inequality. In this context, the Hospital Project will support a region of Türkiye which is in dire need of improved health services and infrastructure in the immediate, mid-and long-terms