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    Reference: 20170597
    Release date: 26 April 2018

    Promoter – Financial Intermediary




    The project will support Hoivatilat, a Finnish service company specialised in producing, developing, owning and leasing out nursing homes, day care centres and service blocks in provision of equity of access to care facilities. The company designs, finances and develops properties as turn-key projects for service companies to operate and manage based on pre-agreed arrangements with responsible municipalities.


    The project concerns the construction of new care facilities specifically designed to be used for the care of the elderly, handicapped persons, pre-school children, and combinations thereof. Such facilities are to be constructed throughout Finland.


    • Health - Human health and social work activities

    Proposed EIB finance (Approximate amount)

    EUR 50 million

    Total cost (Approximate amount)

    EUR 129 million

    Environmental aspects

    Care 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. All project activities are expected to be carried out in new facilities, thus the necessity of an EIA under the Directive will be verified by the Bank's services during the appraisal.


    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.


    Signed - 23/04/2018


    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).

    Related tags

    Finland Health