| Project description |
| The project consists of establishing an 88-bed full-service Specialist Hospital and Heart Center (the Center) in Tuzla, Bosnia and Herzegovina (BiH), which will be the first private hospital in the country. In addition to providing cardiac, cardiology and vascular services to children and adults, the Center will offer telemedicine capabilities as well as an education center. |
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| Project sponsor and major shareholders of project company |
| The project’s sponsors include a pool of 30 physicians and cardiac surgeons among which are Dr. Emir Kabil (Bosnian) and Dr. Jacob Bergsland (US/Norwegian). Both are currently directors and founders of the cardiovascular clinic of University Medical Center Tuzla and will be moving to and managing the new Center. |
| Total project cost and amount and nature of IFC's investment |
| The total cost of the project is estimated to be €20.6 million, which will fund the construction of the Center. IFC was requested to provide debt financing of up to €4.6 million. |
| Location of project and description of site |
| The Center will be a greenfield hospital located in the city of Tuzla in northeast BiH. The Center will have a close geographical proximity to other key cities in the region (i.e. 125 km from Sarajevo, 200 km from Belgrade and 400 km from Budapest). The new facility will include the 88-bed clinic and a 65-bed hotel, which will accommodate families of patients, guests, participants of conferences and trainings organized at the Center. |
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| Anticipated development impact of the project |
The presence of the Center in BiH will contribute to:
- expanding access to quality healthcare in Bosnia and marking the establishment of one of the country’s first private health institutions;
- establishing quality benchmarks for the delivery of private health services in the country and helping raise local standards of healthcare, specifically in terms of transparency and formal prices;
- offering increased employment opportunities to local healthcare professionals;
- developing a private health insurance in the country; and
- encouraging other foreign and local investors to participate in the modernization of the country’s health system. |
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| IFC's expected development contribution |
IFC’s role in the project includes:
- providing long-term financing, which is currently difficult to obtain for private healthcare providers in BiH;
- providing its expertise in financing healthcare providers and greenfield hospitals; and
- ensuring credible, transparent practices of the Center, which will be an example for establishing healthcare best practices in BiH. |
| Environmental and social issues - Category B |
The Center is a category B project based on the new IFC Environmental and Social Review Procedure and the performance standards. A summary of IFC’s environmental and social review findings for the project including the rationale for the B categorization will shortly be (is) publicly available in the Environmental and Social Review Summary (ESRS). The Environmental and Social Action Plan (ESAP), which is attached to the ESRS, contains specific tasks that the client will undertake to mitigate perceived risks and impacts from the project, and to ensure compliance with IFC’s Performance Standards.
The Center has agreed to develop a Healthcare Waste Management System (HWMS) to manage medicinal infectious waste. In addition, the center plans to develop a Human Resource Policy according to BiH Labor Law.
To view the environmental documents for this project, click here |
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| For inquiries about the project, contact: |
Dr. Emir Kabil, Director
BH Heart Center Tuzla
Tuzla – Bosnia
Telephone: +387 61 146 840 |
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| For inquiries and comments about IFC, contact: |
General IFC Inquiries
IFC Corporate Relations
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384
E Mail: Webmaster |
| Local access of project documentation |
The project documentation can be obtained by contacting:
Dr. Emir Kabil, Director
BH Heart Center Tuzla
Tuzla – Bosnia
Telephone: +387 61 146 840 |
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