IPSE DE BRUGGEN SUSTAINABLE LONG-TERM CARE

Promoter – Financial Intermediary

STICHTING IPSE DE BRUGGEN

Location

• The Netherlands

Description

Refurbishment and new construction of long-term care facilities for clients with intellectual disabilities predominately within the Dutch province Zuid Holland over the period 2019-2028.

Additionality and Impact

The Project supports the Promoter's investment plans dedicated at the refurbishment and new construction of long-term care facilities for clients with intellectual disabilities within the Dutch province Zuid Holland over the period 2019-2028. This project addresses the sub-optimal investment situation in the European health infrastructure due to market failures originating from the public goods nature of healthcare facilities, including mental and disabled health care providers, and the large health externalities they generate. The project generates benefits through the provision of improved long-term care services to individuals with intellectual disabilities and the reduction of energy consumption. By providing integrated and efficient long-term care services of higher quality, the project aims at responding to the needs of a vulnerable segment of population, hit by the COVID-19 crisis, and to developments in healthcare practices. The operation will ensure that Ipse de Bruggen 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. The Bank's provision of 25-year financing provides significant stability to the management of the Borrower's long-term obligations.

Objectives

The project supports the improvement of the Promoter's current facilities through refurbishment, replacement and extension. The improvement encompasses buildings, equipment and surrounding areas with nearly 80% of the investment plan focused on the Promoter's three main sites. The project is furthermore dedicated to improve the Promoter's service offer, quality and delivery efficiency and hence it helps to address changing demand for care and increasing quality requirements. The project further aims to improve the Promoter's sustainability level. The Promoter wants to offer clients a healthy, appealing, and safe living environment. To achieve this, the Promoter participates in the Green Deal Sustainable Care. The current real estate will be improved through a CO2 roadmap which consists of investments in isolation, heat pumps, solar panels and energy-efficient installations.

Sector(s)

• Health - Human health and social work activities

Proposed EIB finance (Approximate amount)

EUR 100 million

Total cost (Approximate amount)

EUR 250 million

Environmental aspects

Care facilities of this kind are not specifically mentioned in the 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 compliance with requirements of the EIA Directive 2011/92/EU as amended by 2014/52/EU on Environmental Impact Assessment (EIA) and Habitats Directive will be verified during appraisal. In line with Directive 2010/31/EU, the buildings will have to meet at least the relevant national targets on energy efficiency. The design energy performance of the buildings and any specific related targets to be met will be verified during appraisal.

Procurement

The Promoter has been assessed by the EIB as being a private company not subject to EU rules on public procurement or concessions. However, if at the project appraisal, the EIB were to conclude that the Promoter is subject to the EU public procurement legislation then the Bank would duly inform the Commission Services and would require the Promoter to apply those rules.

Status

Signed - 17/11/2021