£184 million loan funding for urgent hospital upgrades
13 trusts will receive loan funding approved by the Health Secretary to go towards modernising equipment, refurbishing wards and ensuring the safety of NHS buildings.
The Health Secretary has today approved £184 million of capital loan funding from the department to go towards some of the most urgent hospital upgrades to protect vital frontline patient care.
The funding will be shared with 13 trusts in England, including:
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King’s College Hospital NHS Foundation Trust: £26 million to upgrade IT, replace medical equipment and fund critical upgrades to help the trust continue providing the best possible services for patients
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University Hospitals of Derby and Burton NHS Foundation Trust: £11 million to replace 2 existing theatres in the main block at Queen’s Hospital Burton
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Norfolk and Norwich University Hospitals NHS Foundation Trust: £21 million to replace equipment, including defibrillators and CT scanners and imaging, as well as funding its radiology, endoscopy and nephrology departments
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.
The loans will ensure that trusts are able to upgrade critical infrastructure and maintenance on buildings, as well as provide the right equipment for staff to carry out their work and provide better patient outcomes.
Loans are issued at National Loan Fund (NLF) rates, which means the cost is equivalent to the government’s cost of borrowing.
The government is determined to make the NHS estate fit for the future. Since July, it 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.
Breakdown of loans
| Trust | Region | Loan (in thousands) |
|---|---|---|
| Barts Health NHS Trust | London | 35,800 |
| University Hospitals Of Morecambe Bay NHS Foundation Trust | North West | 34,000 |
| King’s College Hospital NHS Foundation Trust | London | 25,903 |
| Norfolk and Norwich University Hospitals NHS Foundation Trust | East of England | 20,874 |
| Lancashire Teaching Hospitals NHS Foundation Trust | North West | 14,900 |
| University Hospitals of Derby and Burton NHS Foundation Trust | Midlands | 11,000 |
| Queen Elizabeth Hospital King’s Lynn NHS Foundation Trust | East of England | 9,015 |
| Barking, Havering and Redbridge University Hospitals NHS Trust | London | 9,012 |
| Pennine Acute Hospitals NHS Trust | North West | 8,000 |
| East Kent NHS Foundation Trust | South East | 4,950 |
| Gloucestershire Hospitals NHS Foundation Trust | South West | 4,950 |
| Wye Valley NHS Trust | Midlands | 3,822 |
| Shrewsbury and Telford Hospital NHS Trust | Midlands | 1,622 |
| Total | 183,848 |