Romania: EUR 368 million EIB backing for construction of new Craiova regional hospital

(Source: European Investment Bank)

  • New hospital to transform critical healthcare in south-western Romania
  • New 807 bed hospital to provide state of the art care, including cancer treatment, trauma and maternal care
  • Latest EIB financing for Romanian healthcare in Romania follows Iasi and Cluj hospital investment

Healthcare for 1.9 million people living in south-western Romania will be transformed following construction of a new regional hospital in Craiova backed by a EUR 368 million long-term EIB loan.

“The European Investment Bank is a key partner for health investment in Romania. I welcome the EIB’s latest support for hospital modernization and EUR 368 million long-term loan for construction of the new Craiova regional hospital.” said Adrian Caciu, Minister of Finance and Governor of the European Investment Bank.

“Investing in health benefits everyone. The European Investment Bank is pleased to support the new Craiova regional hospital through our largest ever loan for health investment in Romania. This new investment, strengthened by advisory support and technical assistance provided by the European Investment Advisory Hub, follows recent EIB backing for new regional hospitals in Iasi and Cluj.” said Christian Kettel Thomson, Vice President of the European Investment Bank.

Supporting hospital investment to improve healthcare and access to quality medical services

The largest ever EIB financing for hospital investment in Romania will back construction of a new tertiary level hospital to provide state of the art care, including cancer treatment, trauma and maternal care

The new facility, expected to be completed by 2027, will enable more flexible care delivery, including outpatient and short-stay healthcare and will make use of the latest medical best practices and standards.

Once operational, the new hospital will provide specialist healthcare for 1.9 million people living in south-western Romania, and improve access to quality medical treatment both for 301,000 people living in Craiova.

Enhancing medical skills and specialist education

Alongside providing regional healthcare, the  new hospital will also serve as a university teaching hospital for  the only medical university in the region and will also contribute to strengthening medical education and improving health research.

The new hospital is expected to employ more than 3,000 full and part-time staff.

Project implementation using European best practice

The EIB has supported preparation of the new hospital investment through the European Investment Advisory Hub, JASPERS and PASSA.

EIB advisory teams worked with Romanian partners to share best-practice on integrated medical care, hospital planning and staff training. EIB experts and external consultants provided the Ministry of Health with a comprehensive package of advisory support, facilitating the preparation of a sound investment proposal and accelerating its access to finance. The EIB’s advisory support included the development of feasibility studies. The EIB continues to provide MoH with the day-to-day  project implementation advice and to contribute on the optimal use of EU funds.

Background information

The European Investment Advisory Hub (EIAH) is a partnership between the European Investment Bank Group and the European Commission under the Investment Plan for Europe. The EIAH is designed to act as a single access point to various types of advisory and technical assistance services. It supports the identification, preparation and development of investment projects across the European Union. Building on the success of the EIAH and other advisory programmes, the EIB and the European Commission agreed to continue the provision of  technical, financial and strategic expertise to project promoters, regional and national authorities, private sector and financial intermediaries under the InvestEU Advisory Hub.

Project Advisory Support Service Agreement (PASSA) helps projects funded by the European Union and its objective is to accelerate project execution and speed up EU structural and investment funds absorption. The Project Advisory Support Service Agreements are flexible instruments offering tailor-made advisory to project teams and local administrations responsible for public sector investments.

The Joint Assistance for Preparing Projects in European Regions (JASPERS) is a technical assistance partnership managed by the European Investment Bank Group and co-sponsored by the European Commission (DG Regional and Urban Policy). JASPERS provides technical expertise for investments supported by European grant funds, for any stage of the project cycle from the early stages of project conception through to the final application for EU funding.

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