14 Mar 2019
EUR 102.26 million
Financial institutions and SMEs
|Date of loan:||27 Oct 2017|
|Customer:||Kainuun sosiaali- ja terveydenhuollon kuntayhtymä|
|Amount in EUR:||EUR 76 million|
|NACE sector / loan type:||Construction|
|Business area:||Infrastructure, transportation and telecom|
This loan contributes to climate change mitigation: 100%
Arctic Financing Facility (read more): 100%
The loan has been provided for the construction of Kainuu region’s new central hospital in eastern Finland. The project includes the construction of the main building and a logistics terminal. A small part of the existing facilities will be renovated, while the rest will be demolished. By enabling the centralisation and modernisation of treatment processes, the new hospital facilities are set to increase the hospital’s overall efficiency.
Construction started at the beginning of 2017 and is scheduled to be completed in 2021. The budget of the construction project totals EUR 153 million.
Kainuun sosiaali- ja terveydenhuollon kuntayhtymä (Kainuu Social and Health Care Authority) is a public regional organisation that provides social and health services to 80,000 inhabitants in Kainuu region.
The new hospital will allow the regional healthcare system to take into use modern healthcare models. By enhancing productivity will help improve health outcomes while reducing costs, thus countering one of the main challenges in the Finnish public health system in the coming decades. Enhancing the productivity of the health care system will also shorten waiting times for treatment and leads to higher service quality.
Although the new hospital complex will have a larger gross area than the existing facilities, the overall energy use will decrease by at least 25%.
The project is not assessed to have any significant negative environmental or social impacts. Construction will take place within the existing hospital area. However, as the existing hospital is situated next to the construction site, it will be exposed to increased noise levels and traffic. Action plans for mitigation of impacts from the construction phase have been prepared by the contractor.