Release date: 28 December 2021
Promoter – Financial Intermediary
ROMANIALocation
Description
Financing of investments designed to strengthen the Romanian Healthcare Sector and to improve preparedness and responsiveness to the COVID-19 pandemic and similar threats.
Additionality and Impact
The operation will finance the rehabilitation, extension and/or refurbishing of 28 hospitals and medical facilities across Romania. These investments are designed to strengthen the Romanian healthcare sector and to improve the response to the COVID-19 pandemic and enhance preparedness in terms of future similar threats. The Project generates positive externalities through the provision of health services that benefit society and the broader economy. This operation is part of the EIB Group's response to the COVID-19 pandemic. The implementation of the Project is expected to generate additional benefits for the citizens, particularly in respect of ensuring access to sustainable medical services in the longer term, ensuring safer working conditions for medical staff, increased quality of care and improved patients' safety. The Bank's financial contribution through long term financing at more affordable rates than available in the market is expected provide an important budgetary support allowing Romania to significantly enhance its immediate response in the fight with COVID-19 pandemic and to strengthen the national response capacity against possible future pandemic threats.
Objectives
The aim of this Project is to tackle the systemic healthcare emergency created by the COVID-19 outbreak, especially in the area of the reinforcement and preservation of the integrity of the Romanian healthcare system in the medium term, and its improved overall functionality and resilience in the longer term.
Sector(s)
- Health - Human health and social work activities
Proposed EIB finance (Approximate amount)
EUR 142 million
Total cost (Approximate amount)
EUR 190 million
Environmental aspects
The project comprises of construction and refurbishment of selected healthcare facilities. The Bank's services will verify during appraisal the screening decision of the competent authority and the corresponding environmental impact assessments (EIAs), if any are required. 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.
Procurement
The contracts for implementation of the project have been and will be tendered in accordance with the 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 EU Official Journal, as and where required.
Status
Signed - 19/12/2022
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).