27 Oct 2017

NIB funds new hospital in Kainuu, eastern Finland

Visualisation: Kainuu Social and Health Care Authority

NIB and Kainuu Social and Health Care Authority have signed a 30-year loan agreement of EUR 76 million for the construction of a new central hospital of Kainuu region in eastern Finland.

The loan will finance the construction of the main hospital building and a logistics terminal. The new campus will replace a hospital built in 1969. A small part of the old building will be renovated, while the rest will be demolished. Further, 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 investment will help Kainuu regional hospital introduce state-of-the-art healthcare models and increase productivity, while reducing costs, also due to better energy efficiency”, says Henrik Normann, NIB President.

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.

Kainuu Social and Health Care Authority is a public regional organisation that provides social and health services in the Kainuu region in eastern Finland.

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

Kainuu Social and Health Care Authority

Ms Maire Ahopelto, Head of the Authority, at +358 44 777 3033

NIB

Mr Olli Lempiäinen, Senior Manager Origination, at +358 10 618 0525,

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