Photo: Eero Vabamägi

26 Mar 2020

NIB finances hospital infrastructure developments in northeast Estonia

NIB and the Estonian Ida-Viru Central Hospital Foundation have signed a 17-year loan facility agreement for infrastructure investments at the Ida-Viru Central Hospital between 2019 and 2023.

NIB’s financing consists of a EUR 9 million loan and a EUR 6 million uncommitted credit facility. It will be directed to infrastructure developments in different health care service locations in the Ahtme and Järve districts.

In Ahtme, the investments include extensions to the curative care hospital and the health centre buildings, as well as the renovation of an old block at the hospital. In Järve, the main projects are the construction of a new primary health centre and the renovation of the outpatient clinic.

The project will substantially improve the hospital’s service quality, because the current buildings are physically worn-out. The modernisation will therefore result in a better treatment environment for both patients and hospital staff.

The hospital infrastructure developments are also expected to result in operational efficiency improvements that will lead to financial savings and will increase the potential capacity of the hospital.

The total investments amount to approximately EUR 41 million. The project works started in 2018 and are expected to be completed by the end of 2023.

Ida-Viru Central Hospital (Ida-Viru Keskhaigla) is the largest hospital in North-East Estonia, providing health care services for 175,000 inhabitants in the region. It is part of the strategic Hospital Network, which is the backbone of the country’s specialised medical care services, providing both in- and out-patient care, as well as emergency care services.

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, Lending, at +358 10 618 0240,
Mr Vytautas Brazaitis, Communications Unit, at +358 10 618 0235,

Related resources

18 Mar 2020

Ida-Viru Central Hospital Foundation

EUR 15 million