19 Feb 2014

NIB lends for new medical campus in Tartu

Visualisation: Tartu University Hospital

NIB and Estonia’s Tartu University Hospital have signed a loan agreement, totalling EUR 21 million, for the construction of a new medical campus in the country’s second largest city Tartu.

The loan with a 17-year tenor will finance the construction of an oncology centre, clinics for internal medicine and ophthalmology, as well as departments for cardiac surgery, endoscopy, pathology, laboratories and a hospital pharmacy. The aggregate area of facilities to be constructed is about 39,000 square metres.

The project is aimed to gather hospital facilities, now scattered around the town, under one roof. The project started in 2004 and is expected to be completed in September 2015 when the new campus will be inaugurated.

“By providing a loan to the hospital, we hope that better efficiency of medical treatment will have a positive effect on the overall competitiveness of the society and economy. We also expect that the upgrade of the hospital infrastructure will stimulate its scientific and innovation activity,” says Henrik Normann, NIB President & CEO.

The Tartu University Hospital is Estonia’s primary site for clinical research and medical education. In its current status as a foundation, the Tartu University Hospital was founded in 1998 by the Republic of Estonia, Tartu University and the town of Tartu as a result of merging a number of hospitals.

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,

Mr Dimitrijs Alehins, Senior Communications Specialist, at +358 10 618 0296,