Release date: 31 January 2022
Promoter – Financial Intermediary
COMUNIDAD AUTONOMA DE GALICIALocation
Description
Extension and modernisation of two reference public university hospital complexes, located in the Autonomous Community of Galicia.
Additionality and Impact
The project supports EIB's Health policy objective, is in line with the Urban Agenda for the EU, and aims to contribute to the priority objective of the European Commission to build "Better health and care, economic growth and sustainable health systems". It also supports the strengthening of the EU's economic, social and territorial cohesion. In addition, it will contribute to increase the health sector resilience and the pandemic preparedness in the region.
The project will generate positive externalities through the provision of health services that benefit the society and the broader economy. Those externalities include, but are not limited to, containment of infectious diseases and the direct impact on economic productivity from a healthier population.
The Bank's participation secures the access to long-term finance at affordable interest rates. This represents a key contribution considering the very long-term nature of the financed assets and its positive impact on the overall project cost. In addition, the loan will include flexible drawdown terms and conditions adjusted to the investment horizon of the project, elements highly valued by public promoters as a key differentiating feature of the EIB's financing.
Objectives
The project's main objective is to improve the quality and efficiency of medical services for patients requiring hospital care in Pontevedra and El Ferrol (Autonomous Community of Galicia). In the current context of the COVID-19 crisis, the project is expected to contribute to the region's preparedness and response capacity against future pandemics.
Sector(s)
- Health - Human health and social work activities
Proposed EIB finance (Approximate amount)
EUR 150 million
Total cost (Approximate amount)
EUR 203 million
Environmental aspects
The project comprises the reconstruction, extension and equipping of medical facilities. Hospitals are not specifically mentioned in the EIA directive 2014/52/EU amending 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 decisions of the competent authority. In line with Directive 2010/31/EU, the new and rehabilitated buildings will have to meet at least the relevant national targets on energy efficiency. The design energy performance of the hospitals and any specific related targets to be met will be verified during appraisal. It is expected that the project will bring wider benefits to the community as healthcare is an element of social cohesion and economic development. The Bank will encourage the Promoter to take into account circular economy principles during the development and future operation of the project.
Procurement
The Bank will require the Promoter to ensure that contracts for the implementation of the project have been and will be tendered in accordance with the relevant applicable EU procurement legislation: Directive 2014/24/EU, as well as Directive 89/665/EEC as interpreted by the Court of Justice of the EU, with publication of tender notices in the Official Journal of the EU, as and where required.
Status
Signed - 4/04/2022
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).