EIB to finance construction of new Lisbon hospital

 In Construction, News

The European Investment Bank is to finance the construction project for a new Lisbon hospital that has been adjudicated to the Sino-Portuguese construction firm Mota-Engil, and will replace several existing Lisbon hospitals in outdated 18th and 19th century buildings.

The EIB will lend €107 million, but could increase that investment by as much as €190 million in what will be the first EIB loan for a hospital in Portugal.
The EIB and Mota-Engil signed the loan contract for the loan to build the Hospital de Lisboa Oriental (Todos os Santos) located on a large tract of urban land at Chelas in the Eastern part of Lisbon near to the Parque das Nações and Marvila districts.
The cost of the entire project has been estimated at €380 million, with work slated to begin in the first half of this year.
“This investment reflects the overall goal to reform health care and the strategic plans developed over the past two decades, with a view to reducing costs and increasing efficiency in the health system,” states the EIB in a communiqué, adding that the project will also “help correct the inequalities in the health domain, one of the main challenges for Portugal in this sector”, and also “contribute to increase the resilience of the health sector and prepare it for health emergencies and pandemics through the creation of functional hospital infrastructures that are modern, flexible, and technology rich.”