ICD commits €40 million to Kokshetau Hospital Project in Kazakhstan

Astana (UNA) – The Islamic Corporation for the Development of the Private Sector (ICD) has signed a Public-Private Partnership (PPP) agreement worth EUR 40 million to co-finance the Kokshetau Hospital Project in the Republic of Kazakhstan.

This project is expected to be the Foundation’s first financing in Kazakhstan provided in the form of a public-private partnership.

It will also become the first public-private partnership in the healthcare sector in Kazakhstan and the Central Asian region, with the development of a new 110 square metre facility to serve more than 730 people living in the city of Kokshetau and the Akmola region as a whole.

Under the public-private partnership agreement, the private sector partner will maintain the facility and operate the hospital’s information management system around the clock, setting a digital standard for Kazakhstan’s healthcare sector.

Medical services will be provided by Turar Healthcare, a state-owned, non-profit operator.

The project will be financed with £365 million, jointly by the European Bank for Reconstruction and Development (EBRD), the Asian Infrastructure Investment Bank (AIIB), the German Investment Corporation (DEG), the Islamic Corporation for the Development of the Private Sector, Proparco, a subsidiary of the French Development Agency, and the Development Bank of Kazakhstan (DBK).

The new hospital will seek a “silver” rating under the Leadership in Energy and Environmental Design (LEED) green building certification program, which evaluates best building strategies and practices. It will also seek EDGE certification for water and energy savings.