NIB Nordic Investment Bank

Loan

Estonia. North Estonia Medical Centre Foundation

Date of loan: 9 Oct 2017
Country: Estonia
Customer: North Estonia Medical Centre Foundation
Amount in EUR: EUR 24.5 million
Maturity: 20 years
NACE sector / loan type: Health care sector

Sectors

Infrastructure, transportation and telecom

Project

The loan has been provided to finance the modernisation and expansion of a hospital facility in Tallinn, Estonia.

The project concerns the construction of a new wing at the Mustamäe campus of the North Estonia Medical Centre, which will house a pathology centre as well as an oncology and haematology clinic.

The new wing will accommodate 120 beds for the chemotherapy, radiotherapy and nephrology departments. Construction is expected to be completed in 2020.

North Estonia Medical Centre (NEMC) is one of the top health care providers in the country. NEMC includes seven clinics with 32 centres for specialized medical care, and offers treatment to approximately 145,000 patients. NEMC employs around 4000 professionals and is the sixth largest employer in Estonia.

Fulfilment of NIB's mandate

Competitiveness:

The new wing at the Mustamäe medical campus will allow the hospital units to utilise modern equipment and introduce new treatment options. This is expected to improve the quality of care and increase efficiency.

Further, the modernisation of the hospital will support the quality of teaching for students and residents through a higher volume of patients, and access to modern equipment and technology.

Environment:

The new premises are designed as low-energy use buildings and will follow environmental requirements for buildings in Estonia. Heating systems will include geothermal and solar power.

Sustainability summary

No significant sustainability issues have been identified in relation to the projects.

Back to agreed loans

  • AR2017

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