The European Investment Bank (EIB) is set to provide a loan of €490m for the construction of a children’s hospital in Dublin, Ireland.
The 25-year loan will be the largest ever financial assistance provided by the European Union’s EIB in Ireland.
The hospital, being constructed on a 12-acre site, will consolidate and modernise paediatric hospital care for the Greater Dublin Area besides transforming tertiary care for children and young people in Ireland. The hospital is expected to open in 2022.
It will include 380 individual inpatient rooms, 93 day care beds, 22 operating theatres, a 53-unit family accommodation facility, and outdoor gardens and courtyards.
The project features two new paediatric outpatients and urgent care centres, one at Tallaght Hospital on the south side of the city and one at Connolly Hospital on the north side of the city.
The Connolly facility will open in 2019 and the Tallaght facility in 2020.
The children’s hospital will be established as a centre for paediatric research and medical education and will be the first acute hospital in Ireland to use electronic health records. It will also play a key role in the digitalisation of the Irish health sector.
The EIB will provide the assistance through the National Treasury Management Agency and the Department of Health will oversee the construction.
The National Paediatric Hospital Development Board will look after the planning, designing, building and equipping the hospital.
The EIB began lending to Ireland in 1973. The latest assistance will be the first EIB financing for a hospital in Ireland and forms part of EIB’s €70m support for construction of 14 primary health care centres agreed in May 2016.
EIB president Werner Hoyer said: “The impressive new children’s hospital will provide 21st century healthcare for Ireland’s children, improve paediatric innovation and construct a world-class facility in the heart of Dublin.
“It has been a privilege to hear from staff and patients how the new hospital will transform medical care and to see how construction here on the campus shared with St James’s Hospital has already progressed.”