NIB Nordic Investment Bank


10 Oct 2017

NIB funds modernisation of hospital campus in Tallinn, Estonia

North Estonia Medical Centre
Image: North Estonia Medical Centre.

NIB and the North Estonia Medical Centre Foundation (NEMC) have signed a EUR 24.5 million loan agreement for the renovation and expansion of the North Estonia Medical Centre in Tallinn, Estonia.

The 20-year maturity loan will finance the construction of a new wing at the Mustamäe medical campus of the North Estonia Medical Centre.

The new wing will house the pathology centre as well as the oncology and haematology clinic. The wing will accommodate 120 beds and offer treatment facilities for the chemotherapy, radiotherapy and nephrology departments. Construction is expected to be completed in 2020.

"The expansion of the Mustamäe hospital campus is an important part of our development plans", says Agris Peedu, CEO of the North Estonia Medical Centre. "This large-scale financing allows us to offer patients even better access to treatment."

“The modernisation of the hospital will introduce new treatment options and allow for more efficient operations at the facilities. Patients will profit from improved quality of care, and medical students will be able to access modern equipment and technology”, says Henrik Normann, NIB President & CEO.

The new premises are designed to follow national standards for energy use and environmental requirements.

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.

NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

For further information, please contact

Mr Vilius Girkontas, Senior Manager, Origination, at +358 10 618 0240,

Ms Lisa-Maria Altenberger, Communications Unit, at +358 10 618 0234,

  • AR2016


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