The European Investment Bank (EIB) signed a loan of EUR 29 million with Ospedal Grando S.p.A., to support the design, construction and operation of the new Cittadella della Salute within the Ca' Foncello Hospital in Treviso. Ospedal Grando will operate under a 41-year concession agreed with the local health authority, Azienda Unità Locale Socio Sanitaria (AULSS) n. 2 Marca Trevigiana.

This agreement was made possible by the support of the European Fund for Strategic Investments (EFSI). The EFSI is the central pillar of the European Commission's Investment Plan for Europe, the so-called "Juncker Plan".

The loan agreement will finance the refurbishment of some existing buildings and the construction of new facilities. These will include an enhanced medical centre with almost 1,000 beds and new research and logistical centres. The new and refurbished buildings will comply with the latest safety and anti-seismic structural regulations, as well as higher energy standards allowing for savings and CO2 emissions reduction.

The loan signed today will be complemented by a second loan of EUR 39m in favour of the AULSS, aimed at funding a portion of public grants assigned to this project, which is expected to be signedtomorrow. This brings the total EIB support to the new Cittadella della Salute project to EUR 68 million. Moreover, it is the first time that the financial benefits deriving from EIB’s lower cost of funding compared to other financers are allocated in favour of social impact initiatives.

European Commission Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness, said: "The construction of modern, state of the art medical facilities and hospitals requires significant investment. The European Fund for Strategic Investments is playing an important and growing role in facilitating investments in the social sector. This agreement proves that the Investment Plan can deliver a social dividend, directly benefiting the citizens of Treviso, whilst also providing a boost for jobs and growth across Europe."

EIB Vice-President Dario Scannapieco said: “The loan we signed today shows the EIB’s and the Investment Plan for Europe’s strong commitment to improving social infrastructure across Italy. Thousands of people in the Veneto region will benefit from state-of-the-art medical treatments and facilities, as well as less waiting time.”

Background information

The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals. In 2016 alone, the Bank made available nearly EUR 9.9 bln in loans for Italian projects.

The Investment Plan for Europe focuses on strengthening European investments to create jobs and growth. It does so by making smarter use of new and existing financial resources, removing obstacles to investment, providing visibility and technical assistance to investment projects. The Investment Plan is already showing results. The projects and agreements approved for financing under the EFSI so far are expected to mobilise EUR 209 billion in total investments across 28 Member States and to support 427 000 SMEs.

The development of social infrastructure and innovative initiatives is one of EFSI’s priorities, contributing to the EU’s long-term investment objectives of sustainable and inclusive growth. As of June 2017, 17 projects targeting social infrastructure in 14 Member States have been signed and another 11 approved. Altogether, these projects represent more than EUR 1bn in EFSI financing, which is expected to trigger EUR 5.5 billion in infrastructure investments in this sector. Examples of projects include school and day-care facilities in Finland and primary healthcare centres all over Ireland.