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Signature(s)

Amount
€ 100,310,964
Countries
Sector(s)
Finland : € 5,015,548.2
Sweden : € 95,295,415.8
Health : € 50,155,481.99
Education : € 50,155,482.01
Signature date(s)
28/10/2021 : € 2,507,774.1
28/10/2021 : € 2,507,774.1
28/10/2021 : € 47,647,707.89
28/10/2021 : € 47,647,707.91

Summary sheet

Release date
10 November 2021
Status
Reference
Signed | 28/10/2021
20200941
Project name
Promoter - financial intermediary
HEMSO HEALTH AND OTHER COMMUNITY INFRASTRUCTURES
HEMSOE FASTIGHETS AB
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
SEK 1000 million (EUR 99 million)
SEK 2331 million (EUR 230 million)
Location
Sector(s)
Description
Objectives

The project will finance the construction of health and education infrastructure in Sweden and Finland.

The project aims at providing new, state-of-the-art, elderly and preschool care facilities and schools. Such facilities will be constructed throughout Sweden and, to a lesser extent, in Finland.

Additionality and Impact

The project supports increasing access to social infrastructure throughout Sweden and Finland by ensuring the funding of real estate projects with a particular focus on decentralized locations, selected based on the need and/or insufficient level of social services, such as care for the elderly or pre-school children, or educational infrastructure. The new and upgraded infrastructure financed by the EIB will ensure access to high quality care and state of the art learning environments. The provision of care and education as well as the investments targeting climate change mitigation, generate significant positive externalities, leading to an aggregate underinvestment relative to the levels that would be socially optimal. Therefore, the use of public financing is justified to address the investment gap. It is worth mentioning that this is the second operation with the promoter, who has a strong experience developing social infrastructure properties in Sweden and Finland. The operation will ensure that the promoter has sufficient financial resources for the timely implementation of the project; it will allow the promoter to spread out its investments and ensure that the tenor of the loan aligns with the economic life of the asset being financed.

EIB's financing is furthermore complementary to the other sources of financing accessible to the promoter. By providing a long term and flexible facility, the EIB is strengthening the capital structure of the promoter which is also to the benefit of private sector financiers.

Environmental aspects
Procurement

Care and educational facilities are not specifically mentioned in the Environmental Impact Assessment (EIA) Directive 2014/52/EU amending the EIA Directive 2011/92/EU, though the project is covered by Annex II of the Directive in relation to urban development. During appraisal the Bank's services will verify whether and in which sub-projects an EIA is required by the competent authority, as well as assessing full environmental details. The Promoter intends to further improve on the buildings' energy efficiency compared to the relevant national minimum (NZEB) standards.

The Promoter is a private company not operating in the utilities sector and not having a status of a contracting entity. Thus it is not covered by EU rules on procurement. However, if during the project appraisal, the EIB were to conclude that the Promoter is after all subject to EU public procurement legislation (Directive 2014/24/EU), then the Bank would require the Promoter to ensure that contracts for the implementation of the project will be tendered in accordance with the relevant applicable EU procurement legislation.

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

Documents

Environmental and Social Data Sheet (ESDS) - HEMSO HEALTH AND OTHER COMMUNITY INFRASTRUCTURES
Publication Date
13 Nov 2021
Document language
Main Topic
Lending
Document Number
141654166
Document Focus
Environmental Information
Project Number
20200941
Sector(s)
Regions
Countries
Publicly available
Download now
Environmental and Social Completion Sheet (ESCS) - HEMSO HEALTH AND OTHER COMMUNITY INFRASTRUCTURES
Publication Date
30 Dec 2024
Document language
Main Topic
Lending
Document Number
227908423
Document Focus
Environmental Information
Project Number
20200941
Sector(s)
Regions
Countries
Publicly available
Download now

News & Stories

General enquiries and comments

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Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
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The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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