EU bank supports expansion of Regina Maria private healthcare network in Romania

The European Investment Bank (EIB) is lending 15 million Euro to support the expansion of a private healthcare network in Romania, a press release shows. This agreement is backed by the guarantee of the European Fund for Strategic Investments (EFSI).

2017-06-28 12:43:46

Andrew McDowell, Vice-President of the European Investment Bank, commented: "I appreciate very much that the EIB is supporting the development of medical infrastructure in Romania, with the renovation of two hospitals, as well as improved access to high quality healthcare services, this project will create around 2,000 jobs, providing a real improvement to the quality of life of Romanian citizens. This agreement was made possible by the support of the European Fund for Strategic Investments (EFSI), the central pillar of the European Commission′s Investment Plan for Europe, the so-called Juncker Plan."

Under the Private Medical Network Expansion in Romania project, the EU bank is helping one of the leading providers in Romania, Regina Maria, to upgrade and expand its network of outpatient and inpatient facilities mainly outside the capital city. The project involves the extension and modernisation of the network through the construction and renovation of two hospitals and 15 outpatient centres, including polyclinics, laboratories and imaging centres. In addition to increasing healthcare capacity and improving the quality of medical services this project will lead to the creation of about 2,000 jobs during its operation.

Fady Chreih, the CEO of Regina Maria, commented: "Through this partnership, our mid to long-term investment strategy will receive a boost and, moreover, signal the increased confidence placed in the Regina Maria brand. In the past seven years, Regina Maria has made CAPEX investments of over 70 million Euro in expansion, modernisation and new technology acquisition. Our overarching goal is for Romanian patients to benefit from the best quality of healthcare services in the major cities of Romania. Through our facilities and strong reputation for healthcare quality at European standards, we are playing an increasingly important role in the development of the medical services sector."

The EIB is the long-term lending institution of the European Union owned by the EU Member States. It makes long-term finance available for sound investment to contribute towards EU policy goals.

The Investment Plan for Europe, the so-called Juncker Plan, is one of the European Commission′s top priorities. It focuses on boosting investments to create jobs and growth by making smarter use of new and existing financial resources, removing obstacles to investment and providing visibility and technical assistance to investment projects.

The European Fund for Strategic Investments (EFSI) is the central pillar of the Juncker Plan. It provides a first loss guarantee, allowing the EIB to invest in more, often riskier, projects. EFSI is already showing concrete results. The projects and agreements approved for financing under EFSI so far are expected to mobilise more than 209 billion Euro in investments and support over 426,000 SMEs across all 28 Member States.