Release date: 15 March 2022
Promoter – Financial Intermediary
STICHTING SINT FRANCISCUS VLIETLAND GROEPLocation
Description
Financing the first phase of the long-term investment programme of Sint Franciscus Gasthuis and Vlietland Ziekenhuis, a general hospital operator in the greater Rotterdam area.
Additionality and Impact
This project addresses the sub-optimal investment situation in the European health infrastructure due to market failures originating from the public goods nature of hospitals and other healthcare facilities and the large health externalities they generate. The project generates benefits through the provision of improved hospital services and the reduction of energy consumption. By providing integrated and efficient healthcare services of higher quality, the project aims to respond to the changing needs of an ageing population, hit by the COVID-19 crisis, and to developments in healthcare practices. The operation will ensure that Stichting Sint Franciscus Vlietland Groep 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.
Objectives
The project covers the first phase of the Promoter's long-term strategy for reorganising service delivery across its two hospital facilities. It includes the construction of a new building (about 20 500 m2) on the site of the Franciscus Gasthuis which will enable the consolidation of a number of functions in a modern, state-of-the-art environment. Investments will hence support efficient and modern healthcare provision in the greater Rotterdam region.
Sector(s)
- Health - Human health and social work activities
Proposed EIB finance (Approximate amount)
EUR 80 million
Total cost (Approximate amount)
EUR 170 million
Environmental aspects
Hospitals are not explicitly 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 about 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 more comprehensive benefits to the community as healthcare is an element of social cohesion and economic development.
Procurement
The Promoter has been assessed by the EIB as being a private company not being subject to EU rules on public procurement or concessions.
Status
Signed - 9/11/2022
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).