Queen Elizabeth Hospital to receive £9m loan

Queen Elizabeth Hospital to receive £9m loan

The trust, which was rated as ‘Inadequate’ following its most recent CQC inspection, is set to receive loan funding approved by the Health Secretary to go towards modernising equipment, refurbishing wards and ensuring the safety of NHS buildings.

The King's Lynn hospital is one of 13 trusts across the country that will receive £9.015 million of a £184 million programme to upgrade their facilities.

Norfolk and Norwich University Hospitals NHS Foundation Trust is also set to receive £21 million.

These loans will be vital in supporting hospital staff to provide the best quality care and reduce any safety or infrastructure risks.

It follows the approval of over £70 million in loans for NHS trusts by the Health Secretary in September.

Loans are issued at National Loan Fund (NLF) rates, which means the cost is equivalent to the government’s cost of borrowing.

Since July, the government has committed £4.8 billion in additional capital funding to build over 40 new hospitals, upgrade existing buildings, and provide facilities with state-of-the-art technology and equipment.

Health Secretary Matt Hancock said:

“These loans will make sure hospitals continue to deliver vital services to patients in buildings that are safe and have the right equipment to deliver world-class care.”

“Since July, we have injected £4.8 billion capital funding into the NHS – helping refurbish hospital wards, replace old medical equipment and maintain NHS buildings.”

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