The Laakso Joint Hospital will provide services for adolescent and children’s mental health, as well as palliative care, will also be available. Credit: sa2ukedr / Shutterstock.

The European Investment Bank (EIB) has granted a €100m ($105.38m) loan to support the development of the Laakso Joint Hospital project in Helsinki, Finland.

This funding represents the first instalment of a €480m EIB financing package for the project.

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The collaboration between the City of Helsinki and HUS Group aims to provide a modern and integrated healthcare environment for more than 1.7 million residents in the Uusimaa region through the project.

The Laakso Joint Hospital will feature a range of specialised units, including mental health and neurology wards, outpatient centres, a drug addiction centre, and an eating disorder department.

Services for adolescent and children’s mental health, as well as palliative care, will also be available.

EIB vice-president Thomas Östros said: “Supporting investments in hospitals and healthcare infrastructure is a key pillar of our health and life sciences portfolio.

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“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 favourable long-term financing. We are committed to fostering innovation and human capital in Europe.”

The hospital’s strategic location in the Laakso area will facilitate a direct connection to the Helsinki University Hospital complex through an 800m tunnel. This will ensure seamless access to specialised care and rehabilitation services.

Laakso Joint Hospital CEO Marko Virtanen said: “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 €1bn. Therefore, securing the financing for the project plays a significant role.”

The EIB has contributed over €2.5bn to the healthcare sector in Finland over the past two decades.

The Laakso Hospital area is undergoing a phased transformation, with the construction phase set to be completed in 2030.