EIB agrees EUR 250 million loan for new regional hospital in Iasi

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Specialised hospital care and medical treatment for 3.2 million people in north-eastern Romania will be transformed by EUR 250 million new financial support by the European Investment Bank for construction of a new regional hospital in the country’s second city Iasi. The new 27-year loan represents the EIB’s largest ever support for healthcare in Romania.

Further EIB investment in Romanian hospitals is expected to be confirmed in the coming months.

“The Iași Emergency Regional Hospital will not only be a new building, but once fully operational, it will allow the health system to move into a new era of healthcare provision, overcoming critical gaps in the sector and making a long-term contribution to the health of the population. Investing in the health system is investing in people, and the new EIB financing of EUR 250 million signed today is making the plans to build a new regional hospital in Iasi a reality, which will lead to improved healthcare in north-eastern Romania and develop medical education in Iași. As Minister of Finance, I strongly support investment in the health sector, with the health budget as a priority. The European Investment Bank’s financial, technical and advisory support will accelerate the provision of better health services based on best practices and ensure that investments in the Romanian healthcare system benefit from the EIB’s extensive know-how and experience supporting investment in hospitals across Europe,” said Alexandru Nazare, Minister of Finance of Romania and Governor of the European Investment Bank.

“The European Investment Bank is pleased to agree our largest ever financing for hospital investment in Romania. The EUR 250 million long-term EIB loan, combined with significant advisory and technical assistance support, will back construction of the new Iasi Regional Hospital and deliver modern, efficient and better health care for millions of people in north-eastern Romania. The new facility will increase access to specialist patient treatment and improve medical education for future generations of doctors,” said Christian Kettel Thomsen, European Investment Bank Vice President responsible for lending operations in Romania.

Increasing access to quality healthcare

The new EIB support will improve the quality and efficiency of acute, secondary and tertiary medical treatment in north eastern Romania, using the latest technology and healthcare expertise.

The new hospital will also help to strengthen public health response to the COVID-19 pandemic and improve preparedness against future pandemics.

The 850 bed facility will replace the existing, 260 year old, Saint Spiridon County Emergency Hospital and improve teaching and research at the Grigore Popa University of Medicine and Pharmacy in Iasi.

The new 7-storey hospital will provide both in-patient and out-patient health care and is expected to be operational in 2027.

First Romanian hospital to benefit under new EIB advisory and financing initiative

The EIB is currently appraising possible financing for two other regional hospitals in Romania in Cluj and Craiova.

All three projects have benefited from an extensive advisory and technical assistance package provided by EIB experts and external consultants in the context of EU funded programmes, including the European Investment Advisory Hub, JASPERS and PASSA. The advisory support included the development of feasibility studies, advice on project implementation and on the optimal use of EU funds.

Last year the EIB Group provided more than EUR 809 million of new financing to support higher education, water distribution, energy efficiency and private sector investment across Romania.

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