A CORUNA PUBLIC UNIVERSITY HOSPITAL COMPLEX PSLF

Promoter – Financial Intermediary

COMUNIDAD AUTONOMA DE GALICIA

Location

• Spain

Description

The project supports investments related to the construction and equipment of the new public university hospital complex (Complejo Hospitalario Universitario A Coruña - CHUAC) in the Autonomous Community of Galicia. The existing facilities have been kept up and running due to regular maintenance investments, partial extensions and refurbishment works, but the current infrastructure has become overly obsolete and insufficient to adapt to the changing needs of the ageing population of Galicia. The urban accessibility is also inadequate and does not correspond to the standards of the 21st century.

Additionality and Impact

The Project supports the Health policy objective. Health externalities include, but are not limited to, containment of communicable and non-communicable diseases and their negative effect on individuals as well as the indirect impact on economic productivity from a healthier workforce and population. Public health care services provision and financing ensure that the quantity and quality of investments in the sector are in line with what is socially optimal. The Project aims to provide higher quality and more accessible healthcare services, responding to the demographic trends and requirements of the region.

The Bank's participation secures the access to long-term finance at affordable interest rates. This is a key contribution considering the very long-term nature of the financed assets and its positive impact on the total project cost. In addition, the loan will include flexible drawdown terms and conditions adjusted to the investment horizon of the project, a key differentiating feature of EIB financing highly valued by the borrower.

Objectives

The aim is to replace the existing A Coruña University Hospital, the Teresa Herrera Hospital (maternity and pediatric hospital) and the El Ventorrillo outpatient center. The project involves an almost complete replacement of the current infrastructure with a top of the art facility corresponding to the requirements of the 21st century regarding safety, quality, flexibility, energy efficiency and comfort. A large wide green space will be created both around the access to the hospital and throughout the main axis of the hospital. The new CHUAC and the new parking facility will have circa 140,000m2 and 30,000m2 of gross floor area respectively. Additionally, the promoter envisages to refurbish part of the existing A Coruña University Hospital. Once fully implemented, the new hospital is expected to reach a total of approximately 255,000m2 of gross floor area, giving space to 1,500 hospital beds, 40 operating rooms, 60 diagnostic imaging cabinets, 500 external consultations cabinets, 230 day hospital posts and 45 dialysis stations.

Comments

Financing proposed by the EIB: EUR 450 million, of which EUR 160 million is conditional on obtaining a grant from the European Commission under Pillar 3 of the Just Transition Mechanism ("Public Sector Loan Facility "PSLF).

Sector(s)

• Health - Human health and social work activities

Proposed EIB finance (Approximate amount)

EUR 450 million

Total cost (Approximate amount)

EUR 600 million

Environmental aspects

The project comprises the construction and equipping of medical facilities. Hospitals are not specifically mentioned in the Environmental Impact Assessment (EIA) Directive 2011/92/EU (amended by the Directive 2014/52/EU) though the project is covered by Annex II of the Directive in relation to urban development. The EIB will verify during appraisal the screening decision of the competent authority. In line with Directive 2010/31/EU, the new and rehabilitated buildings will have to meet at least the relevant national targets on energy efficiency. The design energy performance of the hospital and any specific related targets to be met will be verified during appraisal. It is expected that the project will bring wider benefits to the community as healthcare is an element of social cohesion and economic development. The EIB will encourage the promoter to consider the circular economy principles during the development and future operation of the project. Compliance with Environmental and Social standards will be fully verified during appraisal.

Procurement

The promoter has to ensure that contracts for the implementation of the project have been and will be tendered in accordance with the relevant applicable EU procurement legislation: Directive 2014/24/EU, as well as Directive 89/665/EEC as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.

Status

Signed - 1/12/2023