Nordic Investment Bank and Wellbeing Services County Collaborate on €70 Million Hospital Expansion in Finland

Nordic Investment Bank and Wellbeing Services County Collaborate on €70 Million Hospital Expansion in Finland

(IN BRIEF) The Nordic Investment Bank (NIB) has entered into a 20-year EUR 70 million loan agreement with the Wellbeing Services County (WSC) of North Savo, Finland, to fund the expansion and renovation of the “Uusi Sydän” central hospital and the construction of a new psychiatric hospital in Kuopio. This project is part of a comprehensive transformation of the region’s hospital infrastructure, with the goal of modernizing outdated facilities. The central hospital renovations are slated for completion by 2027, while the new psychiatric hospital is expected to be finished in 2024. The improvements aim to enhance medical care, provide a better environment for patients and healthcare workers, and boost energy efficiency, resulting in cost savings for the hospital. The WSC of North Savo, composed of 19 municipalities, oversees social, healthcare, and rescue services in the region, serving around 248,000 inhabitants.

(PRESS RELEASE) HELSINKI, 29-Dec-2023 — /EuropaWire/ — The Nordic Investment Bank (NIB) and the Wellbeing Services County (WSC) of North Savo have signed a 20-year EUR 70 million loan agreement. The loan will finance the expansion and renovation of the “Uusi Sydän” central hospital and the construction of the new psychiatric hospital in Kuopio, Finland.

The hospital infrastructure managed by the WSC of North Savo is undergoing a transformation that will span over a decade, with outdated facilities being modernised. The works at the central hospital are scheduled for completion in 2027, while the new psychiatric hospital is scheduled for completion during 2024.

“The investments will ensure that the outdated facilities are renovated to meet the needs of modern medical care and provide a better environment and improvements for both patients and healthcare workers. Moreover, the renovation will increase energy efficiency, resulting in energy savings for the hospital,” says André Küüsvek, NIB President & CEO.

A new ten-storey hospital tower will be built, and the bed ward tower of the main hospital will be renovated in stages. The new construction area of the project is about 45,000 m2, and the renovation part is about 21,500 m2.

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

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