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 21-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.

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.”

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.

Andrea Rockstuhl, Lendlease Head of Italy and Continental Europe, the main sponsor of Ospedal Grando S.p.A., said: “Ospedal Grando has been a unique opportunity to test the principles of impact investing in a large-scale infrastructure project. In partnership with EIB, Lendlease has been able to optimise the financing of the project to generate EUR1.8m of savings, which are entirely committed to capitalise a new impact fund to invest in innovative solutions for research and health with greater benefits for the community.”