IFC Invests in Turkish Health Care Company

On March 8, 2006, the International Finance Corporation, the private sector arm of the World Bank Group, signed an agreement with Turkey's Acibadem Health Care Group to provide up to $40 million equivalent in a corporate loan.

Speaking at the signing ceremony in Istanbul, Lars Thunell, IFC's executive vice president, praised the health care services group for its impressive track record and future growth strategy.

		"This is IFC's second loan to Acibadem, and it demonstrates continued confidence in the company as well as overall support of the private sector's role in health care development. It also validates the critical importance of improving access to high-quality health care in Turkey." - Lars Thunell, IFC's EVP
Thunell and Pres. Aydinlar at signing

Mr. Thunell is on his first official trip to Turkey since joining IFC from the private sector in January of this year. He is accompanied by the Acting Director of the Southern Europe and Central Asia region, Shahbaz Mavaddat.

The signing ceremony, held at Acibadem hospital in Istanbul, was followed by a tour of the facilities. Acibadem hospital boasts first-class diagnostic and treatment facilities, incorporating the latest medical technology. The hospital is one of five Acibadem hospitals in Turkey and has achieved ISO certification.

Mr. Mehmet Ali Aydinlar, president of Acibadem Group, said, "We would like to thank IFC for its continued support of our group. It has served not only as a lending institution but as a knowledge institution, sharing best practice with our group."

"I am pleased to say that IFC's requirements for environmental and social standards are very much in line with our view of excellence in operations." - Mehmet Ali Aydinlar, President Acibadem Group
		Acibadem hospital diagnostic facility

About Acibadem

Established in 1991, Acibadem is the market leader in the private provision of health care. The group currently services five hospitals, five outpatient clinics, one central laboratory, and one ophthalmology clinic. It has over 4,000 employees, of whom 1,000 are physicians.

Acibadem is accredited with Joint Commission International of the United States and Health Quality System of the United Kingdom, and has been awarded ISO certificates in various disciplines.

To further improve patient-focused health care services, Acibadem has been partnering, since 2003, with Harvard Medical International, an establishment of Harvard Medical School.

For more information about Acibadem, please visit www.asg.com.tr.

Contact:

Ludi Joseph
Communications Officer
Health and Education Department, IFC
E-mail: ljoseph@ifc.org
Phone: 202-473-7700
Website: www.ifc.org/che