The European Bank for Reconstruction and Development (EBRD) has announced it is co-financing the development of a 318 million-euro high-tech hospital in Konya, a city in Turkey’s central Anatolian region. As part of a comprehensive long-term financial package, the EBRD has arranged a 147.5-million-euro-of syndicated loan under its A/B loan structure, with 67.5 million euros for the Bank’s own account and 80 million euros of syndicated to UniCredit Bank Austria AG and Siemens Financial Services. The Black Sea Trade and Development Bank and the Islamic Development Bank are providing parallel financing of 50 million euros and 67.5 million euros respectively.
The European Bank for Reconstruction and Development (EBRD) and the Islamic Corporation for the Development of the Private Sector (ICD) have signed a Memorandum of Understanding developing joint collaboration to support SMEs in Egypt, Jordan, Morocco and Tunisia. Under the terms of the memorandum, the EBRD and the ICD will aim to establish a $120 million investment fund, to develop and to financially support SMEs across the southern and eastern Mediterranean region (SEMED). Various financing products will be used such as equity and quasi-equity.The two institutions will contribute to the SME Fund, as well as exploring additional institutional investors and donor streams in order to provide further SME financing and technical assistance required in the region.