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Minister for Health, Simon Harris, welcomed the decision by the European Investment Bank (EIB) on Friday (December 8th) to provide its largest ever single loan in Ireland of €490 million to Ireland in support of the construction of the new children’s hospital, and associated outpatient and urgent care centres. 
The loan represents almost half of the €1bn exchequer investment required to develop the core hospital, in addition to the two outpatient and urgent care centres. The HSE has stated that by securing this long-term financing from the EIB, the overall interest cost to the State of financing the new children’s hospital and centres will be reduced.
Commenting on the announcement, Minister Harris said: “I am delighted that the EIB has decided to embrace and endorse this vital project by providing us with this loan. The new children’s hospital is the most significant capital investment in healthcare in the history of the State and the EIB’s loan is a vote of confidence, not just in his project, but in Ireland”.
The new children’s hospital, aimed to be completed by 2022, will provide the opportunity to introduce a new model of care for all paediatric services to help tackle current and future challenges in child health and to deliver on the huge advances that are possible in children’s healthcare. The new facilities on the St James’s campus, along with the centres at Connolly and at Tallaght, will also be a research-intensive academic healthcare institution.
Of the two new paediatric outpatients and urgent care centres currently under construction, the one based at Connolly Hospital, on the north side of the city, is scheduled to open in 2019, while the one at Tallaght Hospital on the south side of the city, is due to open in 2020.
Minister Harris said: “This new hospital is an extraordinary opportunity to transform paediatric services for children in Ireland by bringing together patients and staff from across the three existing children’s hospitals into a single organisation, which will improve the experience and outcomes for children and their families”.