VIECURI SUSTAINABLE HEALTHCARE

The investment plan (2022 to 2027) of VieCuri, a top clinical hospital in the Netherlands, for the modernisation and extension of the main campus in Venlo and the replacement of the outdated building in Venray with a new facility.

The project covers VieCuri's investments until 2027, which are aligned to its position as a top clinical hospital in the North of Limburg. The investments support an efficient and modern provision of healthcare and address the needs of the ageing population in the catchment area. The investments also support VieCuri's close cooperation with regional partners, like general practitioners and providers of elderly and rehabilitation care, that fuels optimisations throughout the healthcare chain.

The purpose of the project is to finance the long-term investment programme of VieCuri aimed at high quality, efficient and sustainable healthcare delivery, considering the changing demographic environment in the region.

This project addresses the sub-optimal investment situation in the European health infrastructure due to market failures derived from the public nature of the healthcare system and the large health externalities it generates. The project generates benefits through the provision of improved hospital, outpatient and long-term care 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.

Financially, the operation will ensure that VieCuri has access to sufficient and stable financial resources for the timely implementation of the project. The Bank provides flexibility in terms of availability and grace periods, allowing the promoter to spread out its investments over the planned construction period. The Bank's provision of 25-year financing provides significant stability to the management of the Borrower's long-term obligations.

Hospitals are not explicitly mentioned in the EIA Directive 2011/92/EU as amended by 2014/52/EU, though the project is covered by Annex II of the Directive concerning 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. 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.

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.