NIB Commits EUR 100 Million for Modernization of Hospital Infrastructure in North Savo

NIB Commits EUR 100 Million for Modernization of Hospital Infrastructure in North Savo

(IN BRIEF) The Nordic Investment Bank (NIB) has entered into an uncommitted credit facility of EUR 100 million with the Wellbeing Services County (WSC) of North Savo, Finland, marking their second loan agreement. This 20-year loan is designated for the renovation and construction of hospital buildings in Kuopio, aimed at modernizing outdated facilities to align with contemporary healthcare standards. Spearheaded by the North Savo WSC, this initiative underscores the importance of investing in healthcare infrastructure to enhance service capacity, operational efficiency, and overall infrastructure quality. The agreement also signifies NIB’s commitment to providing stable, long-term financing to support the evolving needs of the Wellbeing Services County.

(PRESS RELEASE) HELSINKI, 16-May-2024 — /EuropaWire/ — NIB and the Wellbeing Services County (WSC) of North Savo have agreed an uncommitted credit facility of EUR 100 million. The 20-year loan facility is earmarked for the renovation and construction of hospital buildings in Kuopio, Finland. The loan agreement is the second between NIB and the North Savo WSC.

The hospital infrastructure managed by the North Savo WSC is undergoing a transformation, with outdated facilities being modernised to meet modern healthcare needs.

“Investments in healthcare services are crucial for higher service capacity, more efficient operations, and better infrastructure. Moreover, NIB can support the recently established Wellbeing Services County with stable long-term financing and diversification of its funding sources,” says André Küüsvek, NIB President & CEO.

Under the new framework agreement, the North Savo WSC will be able to further finance renovation and other construction works at the “Uusi Sydän” central hospital, the construction of a new psychiatric hospital, and the consolidation of the ward operations within the central hospital in Kuopio.

The North Savo WSC is responsible for organising social, healthcare and rescue operations in the region of North Savo in central Finland. It was established as part of the Social, Healthcare and Rescue services (SOTE) reform in 2022. The North Savo WSC, with approximately 12,800 employees, consists of 19 municipalities. The total population of the county at the end of 2022 was around 248,000.

NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

Media Contacts:

Roger Haaparinne
Senior Banker
+358 10 618 0233
roger.haaparinne@nib.int

Lotta Forssell
Senior Communications Officer
+358 10 618 0498
lotta.forssell@nib.int

SOURCE: Nordic Investment Bank