EIB Supports €1 Billion Laakso Joint Hospital Project in Helsinki with €100 Million Initial Loan

EIB Supports €1 Billion Laakso Joint Hospital Project in Helsinki with €100 Million Initial Loan

(IN BRIEF) The European Investment Bank (EIB) has provided an initial €100 million loan for the construction of the €1 billion Laakso Joint Hospital in Helsinki, which will integrate psychiatric, neurological, geriatric, and palliative care services for 1.7 million Uusimaa residents. A collaboration between the City of Helsinki and HUS Group, the project involves building new facilities and renovating existing ones, with completion expected by 2030. The hospital will include specialized units and connect to Helsinki University Hospital via an 800-meter tunnel. The EIB’s funding supports Finland’s largest hospital project and builds on its €2.5 billion investment in Finnish healthcare over the past 20 years.

(PRESS RELEASE) LUXEMBOURG, 18-Nov-2024 — /EuropaWire/ — The European Investment Bank (EIB) has committed €100 million as the first installment of up to €480 million in approved financing for the construction of the Laakso Joint Hospital in Helsinki. This modern hospital project will integrate psychiatric and neurological treatment, rehabilitation, geriatric care, and palliative services, serving over 1.7 million residents in the Uusimaa region. Scheduled for completion by 2030, the project involves constructing new hospital buildings and renovating two existing ones.

The Laakso Joint Hospital is a collaborative effort between the City of Helsinki and the HUS Group, the joint authority for Helsinki and Uusimaa. The facility will house specialized units such as a drug-addiction centre, eating-disorders department, and dedicated adolescent and children’s mental health services. Patients will benefit from a modern healthcare environment designed to enhance accessibility and care delivery, with direct access to the Helsinki University Hospital complex via an 800-meter tunnel.

“This financing from the EIB is crucial for advancing one of Finland’s largest hospital projects, with an estimated total cost of €1 billion,” said Marko Virtanen, CEO of the Laakso Joint Hospital real estate company. “It ensures the smooth progression of this significant initiative.”

EIB Vice-President Thomas Östros highlighted the bank’s commitment to healthcare investment: “The Laakso Joint Hospital project exemplifies our mission to enhance lives by supporting innovative, resilient healthcare infrastructure. This initiative will strengthen healthcare services in the wider Helsinki region.”

The EIB’s involvement builds on a strong history of supporting Finnish healthcare, with over €2.5 billion invested in hospital facilities across Finland in the past two decades. With its comprehensive scope, the Laakso Joint Hospital is set to become a key pillar of healthcare innovation and accessibility in the Helsinki metropolitan area.

This press release was written by the author to showcase the transformative impact of EIB’s financing on healthcare infrastructure in Finland and its dedication to improving lives through sustainable investments.

Background information

The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. It finances sound investments that contribute to EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality.

The EIB Group, which also includes the European Investment Fund (EIF), signed a total of €88 billion in new financing for over 900 projects in 2023. In 2023, the bank’s investments included more than €21 billion as part of REPowerEU, an initiative to reduce Europe’s dependence on fossil fuels and accelerate the green transition.

All projects financed by the EIB Group are in line with the Paris Climate Accord. The EIB Group does not fund investments in fossil-fuels. We are on track to deliver on our commitment to support  €1 trillion in climate and environmental sustainability investment in the decade to 2030 as pledged in our Climate Bank Roadmap. Over half of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.

In 2023, the EIB Group pledged almost €1 billion in financing for new projects in Finland, supporting investment worth nearly €4.4 billion. This is part of the nearly €8 billion of EIB Group financing provided in the country over the past five years.

The City of Helsinki and HUS are reforming the Laakso Hospital area. This construction project is called the Laakso Joint Hospital. The area will be built up in phases from 2022 to 2030. The Laakso Hospital will house psychiatric and neurological treatment and rehabilitation and medical care facilities. Customers and patients will receive help from one single location, and professionals in different fields can collaborate to facilitate the solving of treatment-related issues.

Media Contact:

Kristiina Randmaa
k.randmaa@eib.org
+352 4379 – 72894

Press Office

press@eib.org
+352 43791

SOURCE: European Investment Bank