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

According to Saudi Press Agency, this project marks ICD’s first financing under a PPP scheme in Kazakhstan. It is also noted as the first PPP initiative in Kazakhstan’s and Central Asia’s healthcare sector, involving the greenfield development of a 110,000-square-meter facility. The hospital is set to serve over 730,000 people in the city of Kokshetau and the surrounding Akmola region.

The press release specified that the project will be co-financed with a total investment of up to EUR 365 million. Financing will be provided by the European Bank for Reconstruction and Development (EBRD), the Asian Infrastructure Investment Bank (AIIB), the German Investment Corporation (DEG), Proparco (a subsidiary of Agence Française de Développement), and the Development Bank of Kazakhstan (DBK).

The new hospi
tal aims to achieve a ‘Silver’ rating under the Leadership in Energy and Environmental Design (LEED) green-building certification program, which recognizes best-in-class building strategies and practices. It will also seek an EDGE certification for water and energy efficiency.