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The Board of Directors of the Overseas Private Investment Corporation (OPIC), the U.S. Government’s development finance institution, has approved support to eight new development projects totaling nearly US$1.2 billion in financing.

These private sector-led development projects will invest in Sub-Saharan Africa, Ukraine, the Middle East, and South America, in a variety of sectors to include healthcare, financial services, clean energy and infrastructure.

The board of directors’ approvals for OPIC support include, among others, two hospitals PPP projects in Turkey. More concretely the project financing approved includes:

• Up to US$250 million in financing for the development of the Izmir Bayrakli Integrated Health Campus to support the development, construction, and operation of a health campus with capacity of 2,060 beds in Izmir, Turkey.  The project was awarded on July 13, 2012 to the team made up GAMA Holding A.S, GE Healthcare and Turkeler Construction.
• Up to US$250 million in financing for the development of the Kocaeli Integrated Health Campus to support the development, construction, and operation of a health campus with capacity of 1,180 beds in Kocaeli, The project was awarded on May 15, 2012 to the same team composed of GAMA Holding A.S, GE Healthcare and Turkeler Construction.

These projects are part of Turkey’s Healthcare Transformation Program which aims to leverage private funding for efficient construction and management of new hospital campuses. They will have a substantial development impact on the well-being of Turkish residents and the economic development of the country. Turkey has the lowest number of beds per 10,000 people of any European Union candidate country with 26 beds per 10,000 people.  The Turkey Healthcare Transformation Program aims to provide 32 beds per 10,000 people by 2023.

Additionally, the board of directors’ approvals for OPIC support include an oil transshipment terminal located at the Acu Port in Sao Joao da Barra in Brazil. OPIC has provided up to US$350 million in financing to Acu Petroleo S.A. - T-Oil to support the development of an oil transshipment terminal located at the Acu Port in Sao Joao da Barra, a municipality in the Brazilian state of Rio de Janeiro.

Currently, oil from Brazil’s off-shore oil reserves is transferred from ship-to-ship in open waters or in environmentally sensitive areas. OPIC’s financing will support the country’s first private transshipment terminal and result in a more cost effective and environmentally sustainable solution for Brazil. By providing a contained, protected area for transshipment, the project reduces the potential and impact of oil spills during transshipment operations.

Other approvals for OPIC support included a power project in Senegal, financing to Emerging Europe Growth Fund III L.P., financing to Dragon Capital New Ukraine Fund L.P., financing to Sarona Frontier Markets Fund 3, L.P. and financing to Foursan Capital Partners II

Elizabeth Littlefield, OPIC President and CEO, stated:

“With more than $1.2 billion dollars approved to projects spanning across four continents, these are great examples of the types of projects and investment that OPIC can catalyze,” said Elizabeth Littlefield, OPIC President and CEO. By providing underserved populations with energy access, health services, and the financial tools needed to create and expand their businesses, these projects will make a large impact in much-needed areas around the globe.”