NIB finances new central hospital building in Vaasa, Finland

Press release from the Nordic Investment Bank

NIB and the Vaasa Hospital District have signed a loan agreement of EUR 72.5 million for the construction of a new hospital building in the Vaasa central hospital campus in Finland.

The new H-building will bring the district’s healthcare services from different locations in Vaasa under the same roof. The 10-floor, 36,000 square-metre construction will replace some of the currently used facilities in the area.

“Ensuring that healthcare services can accommodate the growth of the local population and the aging 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”, says Henrik Normann, NIB President & CEO.

The modernisation will benefit the hospital in terms of cost savings, most of which are associated with reductions in maintenance costs and staffing. In addition to cost-efficiency improvements, the waiting times for special healthcare at the hospital are expected to decrease, resulting in better service for the patients.

The construction work started in 2019 and is scheduled to be completed in 2022. The total cost of the project amounts to approximately EUR 145 million.

Vaasa Hospital District (Vaasan sairaanhoitopiirin kuntayhtymä) is a joint municipal authority owned by 13 municipalities in the region of Ostrobothnia. It is responsible for providing specialised medical care for 170,000 inhabitants in the region.

NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

For further information, please contact
Mr Olli Lempiäinen, Senior Client Executive, at +358 10 618 0525,

Mr Arild Moen, Senior Communications Officer, at +358 10 618 0496,

Date of publication: 3 Feb 2020

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