Nordic Investment Bank (NIB) has agreed to provide €72.5m ($80.2m) loan to Vaasa Hospital District for the construction of a new central hospital building in Vaasa, Finland.

To be constructed in the Vaasa central hospital campus, the new H-building will replace some of the current facilities in the area.

NIB said that the 10-floor, 36,000m2 hospital building will bring the hospital district’s healthcare services from different locations in Vaasa under the same roof.

The hospital will be benefited in terms of cost savings that are related to reductions in maintenance costs and staffing using modernisation.

NIB president and CEO Henrik Normann said: “Ensuring that healthcare services can accommodate the growth of the local population and the ageing of society is one of the major challenges for public finances in the coming years.

“Investments in the concentration of Vaasa’s hospital, healthcare and social services alleviate these pressures by improving operational efficiency and reducing healthcare costs in the region.”

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The new hospital is expected to reduce waiting times for special healthcare at the hospital that result in better service for the patients.

Scheduled to be completed in 2022, the total project is estimated to cost around €145m ($160.4m).

Vaasa Hospital District is a joint municipal authority which is owned by 13 municipalities in Ostrobothnia region in Finland. The hospital district provides specialised medical care for 170,000 residents in the region.

NIB is an international financial institution owned by Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. It provides financing for private and public projects in and outside the member countries.

In February last year, NIB has agreed to provide €147m financing to the Hospital District of Helsinki and Uusimaa (HUS) for the construction of a new hospital project in Helsinki, Finland.

The Bridge Hospital (Siltasairaala) will combine two hospitals into one, bringing efficiency gains through centralisation, streamlining and renewing the treatment processes.


H-building of the Vaasa Central Hospital. (Credit: YIT.)