Tallinn medical centre receives EUR 43.5 m loan from the EIB
The European Investment Bank (EIB) will provide EUR 43.5 m for extending and renovating the North Estonia Medical Centre, a key project which will improve access to cardiac, oncology and other advanced forms of treatment in the country.
Under an agreement signed today in Luxembourg, the EIB will help finance renovation of a specialist medical unit. During the renovation, new premises for clinical purposes will be built for the laboratory and blood bank, day surgery unit, central outpatient clinic and cardiology clinic including invasive cardiology, intensive care and functional diagnostics units and inpatients wards. The North Estonia Medical Centre has a staff of 3,600 and is in some specialities the nation’s sole care provider.
When work is completed in 2014, the hospital will be offer a wider range of services and also improve efficiency and cost effectiveness. Total project cost is estimated to approximately EUR 170 m and additional financing will come from European Regional Development Funds, the Nordic Investment Bank and the state-supported hospital foundation’s own resources.
“We are delighted to support this important project in one of the EU’s most dynamic nations, which will further enhance the well-being and attractiveness of Estonia,” said Matthias Kollatz-Ahnen, EIB Vice President responsible for Estonia, at the signing ceremony.
“The main beneficiaries of new and reconstructed infrastructure are first of all patients with oncological and cardiovascular pathology and emergency situation. Improved capacity of infrastructure and relevant equipment will allow improved access to lifesaving technologies like radiotherapy and interventional cardiology,” said Tõnis Allik, chairman of the North Estonia Medical Centre management board.
Background notes:
The mission of the EIB, the European Union’s bank, is to contribute to the integration, balanced development and economic and social cohesion of the EU Member States by financing sound investments. The European Investment Bank is the long-term lending institution of the European Union, whose shareholders are the 27 member states. This loan is one of many supporting the EU Strategy for the Baltic Sea Region and its four priorities: sustainable environment; regional prosperity; increased accessibility and attractiveness; safety and security.
The North Estonia Medical Centre Foundation was founded in 2001. The hospital, with its main buildings located in Tallinn, is one of Estonia’s three public sector referral hospitals. It is wholly owned by the Republic of Estonia.
