Finland. Wellbeing Services County of North Savo
| Date of agreement: | 15 May 2024 |
|---|---|
| Country: | Finland |
| Customer: | Wellbeing Services County of North Savo |
| Amount in EUR: | EUR 100 million |
| Maturity: | 20 years |
| NACE sector / loan type: | Health care sector |
Project
This uncommitted credit facility was made available to finance the Wellbeing Services County (WSC) of North Savo’s (Pohjois-Savon hyvinvointialue) renovation and other construction works at the “Uusi Sydän” central hospital, the construction of a new psychiatric hospital and the consolidation of the hospital’s operations within the central hospital in Kuopio in Finland.
The hospital infrastructure managed by the North Savo WSC is undergoing a transformation, with outdated facilities being modernised to meet modern healthcare needs. The investments in the Kuopio hospital campus area are expected to be completed in 2027. NIB signed its first loan with the Wellbeing Services County (“WSC”) of North Savo in late 2023.
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 consists of 19 municipalities. The total population of the county at the end of 2022 was around 248,000. They have approximately 12,800 employees.
The Kuopio University Hospital (KYS) also offers specialist medical care to patients from outside North 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 investments in centralisation and modernisation will improve the hospital infrastructure, streamline operations, and bring more efficiency to North Savo’s healthcare system.
The hospital serves an ageing population which tends to have higher healthcare costs per person. The increase in productivity will bring a higher service capacity and hence shorter waiting times for treatments.
Environment:
The renovation part is primarily assessed as an energy-efficient project. The refurbishment of the Uusi Sydän central hospital will bring energy savings (expected to be nearly 50%), and this part of the project is eligible for the NIB environmental bond.
The new hospital buildings will not be certified according to any green building certification scheme.
Sustainability summary
The refurbishment of the central hospital bed ward tower will be reconstructed in two phases. The necessary building permits for the first phase of the refurbishment have been granted, and no environmental concerns have been identified. The Wellbeing Services County of North Savo has submitted the application for the second building permit.
No significant negative environmental or social concerns have been identified in relation to the project.
