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Signature(s)

Amount
€ 165,000,000
Countries
Sector(s)
Finland : € 165,000,000
Health : € 165,000,000
Signature date(s)
23/10/2024 : € 165,000,000
Link to source

Summary sheet

Release date
12 June 2024
Status
Reference
Signed | 23/10/2024
20220091
Project name
Promoter - financial intermediary
HUS HEALTH CARE INVESTMENTS IV
HUS-YHTYMAE
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 300 million
EUR 600 million
Location
Sector(s)
  • Health - Human health and social work activities
Description
Objectives

The project supports the investment programme 2022-2026 of the Wellbeing Joint Authority for Helsinki and Uusimaa (HUS).

The investments include the construction and renovation of hospital and health care buildings in the Uusimaa region in southern Finland.

Additionality and Impact

The project supports the Bank's primary objective "Innovation, digital and human capital" (Health). The project addresses the sub-optimal investment situation in the European health infrastructure due to market failures originating from the public goods nature of services provided by hospitals and other healthcare facilities and the large health externalities they generate. Furthermore, strategic investments in the health care sector have been shown to yield long-term health benefits, as well as economic and social returns on investment that far exceed potential private returns. A healthier population also adds to lower carbon footprint stemming from the health sector. The project is expected to generate a range of economic and social benefits. The project aims to provide higher quality and range of healthcare services. Furthermore, new hospital set-up to provide highly specialised and innovative health care services will increase access to the latest practical achievements of medicine for the population of the region. The project also supports the increased quality of medical education. 

 

The financing, particularly as it foresees tailored disbursement terms that can be matched with the project outflows during the construction period, as well as the favourable repayment terms are the main elements of financial contribution offered by the EIB.

Environmental aspects
Procurement

Hospitals are not specifically mentioned in the Environmental Impact Assessment (EIA) Directive 2014/52/EU amending the Directive 2011/92/EU, though the project is covered by Annex II of the Directive in relation to urban development. The Bank's services will verify during appraisal the screening decision of the Competent Authority. It is expected that the project will bear wider benefits to the community as healthcare is an element of social cohesion and economic development

The promoter to ensure that contracts for the implementation of the project shall be tendered in accordance with the relevant applicable EU procurement legislation (Directives 2014/24/EU and/or 2014/25/EU and/or 2014/23/EU as well as Directives 89/665/EEC and 92/13/EEC) as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.

Milestone
Under appraisal
Approved
Signed
18 July 2024
23 October 2024
Link to source
Other links

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) - HUS HEALTH CARE INVESTMENTS IV
Publication Date
25 Jul 2024
Document language
Main Topic
Lending
Document Number
155300084
Document Focus
Environmental Information
Project Number
20220091
Sector(s)
Regions
Countries
Publicly available
Download now

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.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

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Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

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Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

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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