NIB finances hospital infrastructure developments in northeast Estonia

NIB finances hospital infrastructure developments in northeast Estonia

NIB and the Estonian Ida-Viru Central Hospital Foundation have signed a 17-year loan facility agreement for infrastructure investments at the Ida-Viru Central Hospital between 2019 and 2023.

NIB’s financing consists of a EUR 9 million loan and a EUR 6 million uncommitted credit facility. It will be directed to infrastructure developments in different health care service locations in the Ahtme and Järve districts.

In Ahtme, the investments include extensions to the curative care hospital and the health centre buildings, as well as the renovation of an old block at the hospital. In Järve, the main projects are the construction of a new primary health centre and the renovation of the outpatient clinic.

The project will substantially improve the hospital’s service quality because the current buildings are physically worn-out. The modernisation will, therefore, result in a better treatment environment for both patients and hospital staff.

The hospital infrastructure developments are also expected to result in operational efficiency improvements that will lead to financial savings and will increase the potential capacity of the hospital.

The total investments amount to approximately EUR 41 million. The project works started in 2018 and are expected to be completed by the end of 2023.

Original source: NIB
Published on 26 March 2020