EIB approves USD 13.7M loan to Bulgaria for children’s hospital

The European Investment Bank (EIB) has approved a 12.8-million-euro ($13.7 million) loan to the Bulgarian municipality of Burgas to help fund the construction of a new specialised children’s hospital in the southeastern coastal city.

The loan will have a seven-year grace period, the EIB said in a press release on Thursday.

The hospital, with the capacity to care for over 220,000 children, is the first project of this kind in Bulgaria to receive financial and advisory support from the lender through the European Investment Advisory Hub.

The low-emission, eight-storey facility will have 123 beds, with another 10 in its pediatric intensive care unit. Between 500 and 700 medical and non-medical staff is expected to be employed at the site, according to the statement.

The building will be sustainable and designed to use renewable energy sources, including the potential for a rooftop solar installation. An energy-saving lighting system and a draining installation to collect and filter rainwater for hospital green spaces are also planned.

The hospital will further university medical research and promote a new model of patient care, allowing parents to accompany in-patients at every stage of the admission.

As part of the assistance package, the EIB, along with external experts, collaborated with the Burgas municipality in developing a feasibility study, which included functional planning and preliminary designs. They also played a role in the preparation of tender documents for the construction and equipment of the hospital. Additionally, efforts will be made to secure financing through EU grants.

“With the help of the experience of foreign experts, provided by the EIB, the bank has supported us in developing this extremely important project. And thanks to the financial resources from the EIB, to which we will have access after signing the contract today, we will have the opportunity to work on the construction as well,” Burgas mayor Dimitar Nikolov said. SeeNews