Developing a healthcare facility in Kazakhstan

Rönesans Holding, headquartered in Ankara, is the 24th largest international contracting company globally and the 8th in Europe with international operation in 30 countries across Europe, Central Asia, the Middle East and Africa. Rönesans has been operating as the main contractor and investor successfully for 30 years across construction, real estate development, energy, healthcare and industrial facilities.

Proparco is participating in a EUR 365 million financing package for the first healthcare facility management public-private partnership (PPP) project in Kazakhstan, together with EBRD and AIIB, as well as DEG, ICD and DBK. This debt facility will help Rönesans Holding’s subsidiary to build and operate a major hospital in the city of Kokshetau. Proparco has granted a EUR 60 million loan for the construction and operation of a 630-bed multidisciplinary hospital in the city of Kokshetau, Kazakhstan. The project will be co-financed by the European Bank for Reconstruction and Development (EBRD) and the Asian Infrastructure Investment Bank (AIIB) which have co-arranged the financing package, together with the German Investment Corporation (DEG), the Islamic Corporation for the Development of the Private Sector (ICD), as well as the Development Bank of Kazakhstan (DBK) through parallel loans. Total financing of up to EUR 365 million will be provided to RenEll Kokshetau LLP, a Kazakhstan-based subsidiary of Rönesans Holding, a Turkish company operating in the construction, real estate, infrastructure, healthcare and energy sectors in 30 countries and a long-standing client of Proparco.

The expected impacts of this financing are as follows:

Employment

• 1,350 direct jobs supported over the next 5 years in the context of the project, and 63 indirect jobs in the value chain

Climate

• This financing has 50% of climate mitigation co-benefits and 15% for adaptation

Access

• Support for providing new or improved access to healthcare and health services over the next 5 years for 220,300 beneficiaries

The project will thereby contribute to the achievement of SDGs 3, 8, 10, and 13.