AZE.US
The Azerbaijan-Uzbekistan Investment Company is participating in a multidisciplinary hospital project worth up to $340 million in Uzbekistan’s Fergana region, while the EBRD is considering up to $158 million in financing.
The European Bank for Reconstruction and Development has not yet approved the loan. Its board is expected to consider the proposal on October 21.
An 800-Bed Hospital
The project covers the construction, equipment and long-term technical maintenance of an 800-bed hospital. Planned specialties include cardiac surgery, neurosurgery and transplant medicine.
The proposed EBRD package consists of a senior secured loan of up to $120 million and an equity bridge loan of up to $38 million. The remaining funding is expected from project sponsors and other international development institutions.
Azerbaijani Fund Among the Sponsors
The project companies’ beneficiaries include Saudi Arabia’s Vision International Investment Company, Turkey’s KOC Construction and the joint Azerbaijan-Uzbekistan Investment Company.
Uzbekistan’s Health Ministry previously said the winning consortium would design, build, finance and equip the complex. The $158 million is therefore proposed EBRD financing, not a loan that has already been disbursed.