Summary sheet
The project supports the investment programme 2022-2026 of the Wellbeing Joint Authority for Helsinki and Uusimaa (HUS).
The investments include the construction and renovation of hospital and health care buildings in the Uusimaa region in southern Finland.
The project supports the Bank's primary objective "Innovation, digital and human capital" (Health). The project addresses the sub-optimal investment situation in the European health infrastructure due to market failures originating from the public goods nature of services provided by hospitals and other healthcare facilities and the large health externalities they generate. Furthermore, strategic investments in the health care sector have been shown to yield long-term health benefits, as well as economic and social returns on investment that far exceed potential private returns. A healthier population also adds to lower carbon footprint stemming from the health sector. The project is expected to generate a range of economic and social benefits. The project aims to provide higher quality and range of healthcare services. Furthermore, new hospital set-up to provide highly specialised and innovative health care services will increase access to the latest practical achievements of medicine for the population of the region. The project also supports the increased quality of medical education.
The financing, particularly as it foresees tailored disbursement terms that can be matched with the project outflows during the construction period, as well as the favourable repayment terms are the main elements of financial contribution offered by the EIB.
Hospitals are not specifically mentioned in the Environmental Impact Assessment (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 Bank's services will verify during appraisal the screening decision of the Competent Authority. It is expected that the project will bear wider benefits to the community as healthcare is an element of social cohesion and economic development
The promoter to ensure that contracts for the implementation of the project shall be tendered in accordance with the relevant applicable EU procurement legislation (Directives 2014/24/EU and/or 2014/25/EU and/or 2014/23/EU as well as Directives 89/665/EEC and 92/13/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.