Finance contract for 100 M€ with European Investment Bank for Laakso Joint Hospital construction project
Real estate limited company Laakso Joint Hospital has signed a finance contract for EUR 100 million with the European Investment Bank (EIB) for the Laakso Joint Hospital construction project.
The Laakso Joint Hospital construction project includes functioning facilities for the treatment of psychiatric and somatic diseases in Laakso Hospital area in Helsinki and Ohkola area in Mäntsälä. The estimated total investment cost of the Laakso Joint Hospital construction project is EUR 1 011 million.
The EUR 100 million loan to the Laakso Joint Hospital project marks the initial installment of up to EUR 480 million in EIB financing that has been approved for the project. In addition to the finance contract signed with EIB, Real estate limited company Laakso Joint Hospital has made EUR 150 million contract with the Council of Europe Development Bank (CEB) and EUR 50 million contract with the Municipality Finance Plc (Munifin).
“Supporting investments in hospitals and healthcare infrastructure is a key pillar of our health and life sciences portfolio,” says EIB Vice-President Thomas Östros. “The support for Laakso Joint Hospital will improve healthcare in the wider Helsinki region and contribute to a more resilient community. This is a great example of the EIB’s mission to improve people’s lives by providing favorable long-term financing. We are committed to fostering innovation and human capital in Europe.”
“The finance contract signed with EIB enables us to proceed smoothly with our hospital project. This is one of the largest hospital projects implemented in Finland with an estimated implementation cost of EUR 1 billion. Therefore, securing the financing for the project plays a significant role”, states Marko Virtanen, CEO of real estate limited company Laakso Joint Hospital.
As the construction project proceeds the next financing round for EUR 400 million will be organised during 2025-2026.
You can find the European Investment Bank’s press release here.
For more information
Marko Virtanen, CEO, real estate limited company Laakso Joint Hospital, tel. +358 139 4300, [email protected]
Tuomas Häivä, Financial Manager, real estate limited company Laakso Joint Hospital, tel. +358 504284002, [email protected]
Anna Tainio, Communications Manager, real estate limited company Laakso Joint Hospital, tel. +358 40 841 3600, [email protected]
The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. It finances sound investments that contribute to EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality.
The Council of Europe Development Bank (CEB) is a multilateral development bank, whose unique mission is to promote social cohesion in its 43 member states across Europe. The CEB finances investment in social sectors, including education, health and affordable housing, with a focus on the needs of vulnerable people. Borrowers include governments, local and regional authorities, public and private banks, non-profit organisations and others. As a multilateral bank with an excellent credit rating, the CEB funds itself on the international capital markets. It approves projects according to strict social, environmental and governance criteria, and provides technical assistance. In addition, the CEB receives funds from donors to complement its activities.
MuniFin (Municipality Finance Plc) is one of Finland’s largest credit institutions, owned by Finnish municipalities, the public sector pension fund Keva and the State of Finland.