CEB and the North Estonia Medical Centre agree on a € 25 million investment in a new psychiatric facility
5 January 2021
PARIS - The Council of Europe Development Bank (CEB) and the North Estonia Medical Centre (NEMC), one of the largest hospitals in the country, agreed on a € 25 million loan to support the construction of a state-of-the-art psychiatric facility.
NEMC is the largest medical institution providing psychiatric care in Estonia, accounting for almost 40% of all patients. The services are currently delivered outside of the NEMC medical campus, in 21 separate buildings that are more than 100 years old.
The new design and setup will enable the provision of integrated care through outpatient, inpatient, and day-care services, in compliance with the highest European standards. It will reflect the needs of the medical staff and patients for safety and privacy, as well as facilitate the use of other medical services, which are ensured by the other NEMC clinics. The new facilities will also be energy efficient and will allow for better cost effectiveness by integrating all medical services in one campus.
3 200 inpatients and 85 000 outpatients are expected to benefit from the new facilities annually, beginning with 2025. In addition, the new state-of-the-art clinic will vastly improve working conditions for staff, which should attract Estonian mental health professionals and thus provide them with a competitive alternative to moving abroad for their careers.
The design for the new clinic is close to completion and construction is due to start in the first half of 2021, with a completion date set for late 2023. In addition to the CEB loan, the new clinic will benefit from EU grant financing.
Rolf Wenzel, the Governor of the CEB, said: “Quality, inclusive health care is vital for sustainable development and social cohesion and as such it constitutes a priority area of financing for the CEB. We are hence pleased to be able to support the North Estonia Medical Centre with its development plans and thus strengthen our cooperation with Estonia, a CEB member since 1998.”"The new buildings will be an integral part of the Mustamäe medical campus, enabling us to do what we are best at - to offer patients a high-quality healthcare service," said Agris Peedu, Chairman of the Board of the Regional Hospital. "In these difficult times, it is a great pleasure to announce that the construction of the new buildings will start in 2021," Peedu added, explaining that the hospital is optimistic about the future, knowing that the hard work of both medical staff and engineers will be effective.
Set up in 1956, the CEB (Council of Europe Development Bank) has 42 member states. Twenty-two Central, Eastern and South Eastern European countries, forming the Bank's target countries, are listed among the member states. As a major instrument of the policy of solidarity in Europe, the Bank finances social projects by making available resources raised in conditions reflecting the quality of its rating (Aa1 with Moody's, outlook stable, AAA with Standard & Poor's, outlook stable, AA+ with Fitch Ratings, outlook stable and AAA* with Scope Ratings, outlook stable). It thus grants loans to its member states, and to financial institutions and local authorities in its member states for the financing of projects in the social sector, in accordance with its Articles of Agreement.