NIB finances better healthcare services in Tallinn

The Nordic Investment Bank (NIB) and the East Tallinn Centre Hospital have signed a twelve-year EUR 15 million loan agreement to finance the upgrade of the hospital’s emergency medical centre (EMC) and the renovation of Magdalena Outpatient Clinic.

“The investments will ensure more accessible services and provide a better environment for both patients and healthcare workers at one of the main health centres in Estonia. Moreover, the renovation will increase energy efficiency, resulting in substantial energy savings for the hospital,” says André Küüsvek, NIB President & CEO.

Tarmo Bakler, Chair of the Board at the East Tallinn Central Hospital, says it is vital for the hospital to be able to finance large investments. “We offer high quality healthcare services and in order to maintain that quality, we need to invest in equipment and buildings," he explains. "The largest investments of 2022 are the improvement of our diagnostic capabilities by purchasing a PET-CT (positron emission tomography-computed tomography) scanner, the completion of our new EMC and the establishment of the Magdalena Centre, which will be completed next year.“

The EMC investments include the renovation of the radiology unit and the construction of a new block. After the modernisation, the queues for examinations and procedures at the centre will shorten due to improved diagnostic capacity. The extended premises and new equipment will speed up the handling of emergency patients, reducing waiting times and thus increasing the readiness to treat more patients.

The renovation of the Magdalena D-building will make it possible to consolidate the primary healthcare and supportive services providers under one roof, improving the availability of services.

The construction work at the EMC was completed in June, and the centre will be opened to patients in July. The renovation of the Magdalena D-building will be finalized in 2023.

The East Tallinn Centre Hospital is one of the largest hospitals in Estonia, consisting of seven clinics and serving around 26,000 inpatient treatments as well as 500,000 outpatient visits last year. The hospital employs about 2,500 people.

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.