Finland. Wellbeing Services County of North Savo
| Date of agreement: | 22 Dec 2023 |
|---|---|
| Country: | Finland |
| Customer: | Wellbeing Services County of North Savo |
| Amount in EUR: | EUR 70 million |
| Maturity: | 20 years |
Financing from NIB Environmental Bond proceeds
NEB-eligible share: 35%
NEB category: Energy efficiency
Amount disbursed: EUR 24.5 million
This project has been financed with the proceeds of NEBs issued under the previous framework
Note: For loans in other currencies than EUR, the equivalent in EUR is based on the exchange rate effective for the disbursement. Read more about the NIB Environmental Bonds
Project
The loan has been provided to the Wellbeing Services County (WSC) of North Savo (Pohjois-Savon hyvinvointialue) for the financing of 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infrastructure managed by the WSC of North Savo is undergoing a transformation that will span over a decade, with outdated facilities being modernised to meet the needs of modern healthcare.
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 works at the central hospital are scheduled for completion in 2027, while the new psychiatric hospital is scheduled for completion during 2024.
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.
The Kuopio University Hospital (KYS) also offers specialist medical care to patients from outside Northern Savo. KYS is responsible for the specialist medical care of approximately one million Finns in Eastern and Central Finland.
Fulfilment of NIB's mandate
Productivity:
The investment will improve and modernise the hospital infrastructure, streamline operations and bring more efficiency to the healthcare system of North Savo.
The increase in productivity will bring a higher service capacity and hence shorter waiting times for treatments. The combination of these effects is also likely to improve treatment outcomes.
Environment:
The new hospital buildings will not be certified according to any green building certification scheme.
The renovation part is primarily assessed as an energy-efficient project. The refurbishment of the Uusi Sydän central hospital will bring energy savings, and the project is eligible for the NIB environmental bond. Energy demand is expected to decrease by nearly 50% due to the project.
Sustainability summary
The necessary building permits for the first phase of the refurbishment have been granted. The Wellbeing Services County of North Savo will apply for the building permits for the second phase in due course.
No significant negative environmental or social concerns have been identified in relation to the project.
