The European Investment Bank (EIB) has entered into a SEK3.5bn (€325m) loan agreement with the Region of Skane in Sweden for the modernisation of the University Hospital in Malmö.

Current buildings of the hospital are no longer suitable for providing services.

To accommodate the core medical services in new facilities and restore the existing facilities at the hospital, Skane regional council granted approval for a long-term investment programme.

The Malmö University hospital project will see the construction of two new buildings with a total of 106,000m2 surface area. In addition, rehabilitation of approximately 8,000m2 will take place within the existing campus of the hospital.

With this project, the hospital expects to decrease the energy consumption of the overall campus by 17,200MWh per year.

The project works have already started and are expected to complete by June 2025.

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EIB vice-president Thomas Östros said: “It’s obviously hard to overstate the importance of modern medical facilities right now. However, what makes this project even more interesting are the energy savings that the new building will make possible.

“Thus, in addition to providing a safer and healthier environment for patients and staff, the new hospital will also positively impact the environment.”

Earlier this week, EIB agreed to support the Municipality of Burgas, Bulgaria, for the development of the first children’s hospital in the country.

The new hospital is expected to cater to children and adolescents in the city of Burgas.

EIB will provide advisory support for the project, including a feasibility study with functional planning and initial designs for the hospital, which is scheduled to be finished by 2024.