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Main Page arrow News arrow Rönesans Receives Europe's Prestigious 'Most Successful Long-Term Financing' Award

Rönesans Receives Europe's Prestigious 'Most Successful Long-Term Financing' Award

14 June 2023
Rönesans Sağlık Yatırım, a subsidiary of Rönesans Holding, was honored with the prestigious 'Most Successful Long-Term Financing' award at the 2022 EMEA Finance Achievement Awards. This recognition comes in light of their remarkable EUR 75 million long-term financing agreement with the EBRD, dedicated to funding healthcare infrastructure investments.
Rönesans Recognized for Winning Europe's 'Most Successful Long-Term Financing' Award

With operations spanning 30 countries across Türkiye, Europe, Central Asia, and Africa, Rönesans Holding maintains its pioneering position in revitalizing Türkiye's healthcare infrastructure through its subsidiary Rönesans Sağlık Yatırım (RSY). Collaborating with international financing institutions, Rönesans Holding has made substantial investments in the healthcare sector, earning significant recognition for its remarkable endeavors. The most recent accomplishment is the noteworthy financing agreement established with the European Bank for Reconstruction and Development (EBRD).

Rönesans Sağlık Yatırım received the 'Most Successful Long-Term Financing' award in the 'Convertible Loan' category at the 2022 EMEA Finance Achievement Awards for its EUR 75 million financing agreement with EBRD, dedicated to realizing healthcare infrastructure investments. 

In celebration of receiving this prestigious global economy and finance award, İpek Ilıcak Kayaalp, Chair of the Board of Directors of Rönesans Holding, expressed her immense joy and gratitude. Kayaalp stated: "We have enjoyed a long-term, robust partnership with EBRD regarding healthcare infrastructure investments. The support provided by esteemed global financial institutions, particularly EBRD, in realizing our country's healthcare initiatives and the trust they have placed in Rönesans hold immense value for us.”

"We Strive to Maintain Our Global Leadership Position"

Highlighting the significant healthcare-related projects that have either been accomplished or are underway in Türkiye, with a combined bed capacity of 9,000, İpek Ilıcak Kayaalp emphasized Rönesans Sağlık Yatırım's unwavering commitment. Kayaalp stated, "Upon completion, our healthcare investments, in collaboration with our partners, will amount to a total investment of EUR 4.5 billion. However, what truly sets us apart is not just the numbers but the uncompromising focus on social and environmental sustainability exhibited by each of our projects. We remain dedicated to upholding our leading position, not only in Türkiye but worldwide, in healthcare and other essential areas of social reinforcement.”

"At the heart of all our investments lies our commitment to creating value for individuals and cultivating a sustainable future," stated İpek Ilıcak Kayaalp. She emphasized that the EUR 75 million of long-term financing provided by the EBRD, specifically for the healthcare sector, aligns with Rönesans Holding's vision and approach of enhancing corporate governance and managing climate risks. Kayaalp further expressed Rönesans Holding's aim to continue strengthening and expanding cooperation with the EBRD in various investments focusing on the healthcare sector across 30 countries, including Türkiye. Kayaalp continued, "We operate across a broad geography encompassing 30 countries in Europe, Central Asia, and Africa, as well as Türkiye. In this expansive domain, 70% of our turnover is derived from our ventures outside Türkiye. At Rönesans Holding, our total investment volume in Türkiye, including our partnerships and Rönesans Sağlık Yatırım projects, has already reached EUR 7 billion. Over the next five years, we aim to elevate this figure to a total investment size of EUR 10 billion, in the process contributing significantly to Türkiye's development. This award serves as a testament to our progress towards achieving this goal.”

Financing Allocated for Environmental and Social Initiatives

The EBRD has been a significant investor in Türkiye since 2009, with investments totaling nearly EUR 17 billion, predominantly directed towards the private sector. 

Committed to upholding the highest standards of corporate governance and sustainable development, the EUR 75 million long-term financing package granted to Rönesans Sağlık Yatırım, a subsidiary of Rönesans Holding, is being utilized as a part of an extensive Environmental and Social Action Plan. This plan aims to enhance corporate governance and effectively manage climate-related risks.

Moreover, Rönesans Sağlık Yatırım actively addresses gender-based violence and harassment in alignment with the guidelines outlined by the EBRD, IFC, and CDC (formerly the UK's development finance institution). Notably, Rönesans Holding was previously honored with the bronze award in the Gender Equality and Economic Inclusion category at the EBRD's 2022 Sustainability Awards. The Gender Equality Project, focusing on fostering an egalitarian perspective regarding human resources policies and procedures within the healthcare sector, was recognized by the EBRD for its commendable achievements.

Source : Capital
Source : Fortune

About Rönesans Group

Rönesans Holding, the conglomerate's top investment entity headquartered in Ankara, is the 38th largest international contracting company globally and the 9th largest in Europe. With operations spanning 30 countries across Europe, Central Asia, and Africa, including subsidiaries such as Ballast Nedam in the Netherlands and Heitkamp Industrial Solutions GmbH in Germany, Rönesans has been operating as the main contractor and investor successfully for 30 years in construction, real estate development, healthcare and energy. Putting resilience and growth through innovation at the core of the company, with a priority on sustainability and social development, Rönesans has developed projects supporting students with scholarships, academic platforms and initiatives; been a signatory of the UN Global Compact since 2015; and a signatory of the UN Women’s Empowerment Principles since 2016.

Under the leadership of its president, Erman Ilıcak, Rönesans, along with its partners GIC, Meridiam Infrastructure, Sojitz, Samsung C&T, TotalEnergies, and IFC of the World Bank Group (minority shareholder in the group), has invested more than EUR8 billion into pioneering projects globally.

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