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International Internet Magazine. Baltic States news & analytics Wednesday, 29.11.2023, 06:22

NIB finances hospital infrastructure developments in NE Estonia with EUR 9 mln loan

BC, Tallinn , 26.03.2020.Print version
Nordic Investment Bank (NIB) and Estonia's East-Viru Central Hospital have signed a 17-year loan facility agreement for infrastructure investments at the East-Viru Central Hospital between 2019 and 2023, reported LETA/BNS.

NIB's financing consists of a nine-million-euro loan and a six-million uncommitted credit facility. It will be directed to infrastructure developments in different health care service locations in the Ahtme and Jarve city districts of Kohtla-Jarve in East-Viru County.

In Ahtme, the investments include extensions to the curative care hospital and the health center buildings, as well as the renovation of an old block at the hospital. In Jarve, the main projects are the construction of a new primary health center 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 modernization will therefore result in a better treatment environment for both patients and hospital staff.

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

Ida-Viru Central Hospital is the largest hospital in North-East Estonia, providing health care services for 175,000 inhabitants in the region. It is part of the strategic hospital network, which is the backbone of the country’s specialized medical care services, providing both in- and out-patient care, as well as emergency care services.

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.

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