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Fundraisers and loans cover new children's hospital cost overrun

The Helsinki and Uusimaa hospital district HUS says it will be looking to raise an extra 15 million euros needed to complete construction of a new pediatric hospital in Helsinki. It hopes to cover the growing costs by drawing down additional loans and starting a new round of fundraising.

Lääkäri tarkastaa lapsen korvaa
The total cost of Finland's new children's hospital has risen to 175 million euros. Image: Marjut Suomi / Yle

The cost of constructing Helsinki's new children's hospital has ballooned by 15 million euros to reach 175 million. Cost overruns have forced officials at the Helsinki and Uusimaa hospital district HUS to scupper plans for supplemental facilities like a maternity milk centre.

The regional hospital authority said it hopes to raise the additional funds needed by taking out new loans and raising the ceiling for fundraising proceeds.

HUS said it's now looking to raise another five million euros from benefactors, to add to the nearly 34.5 million euros already collected. It will also increase the proportion of credit by 10 million euros. The HUS board anticipates reaching a final decision on the sources of additional financing Monday.

Construction of the new pediatric hospital is currently underway in the Helsinki district of Meilahti with a completion date to coincide with Finland's 100th anniversary of independence in December 2017.

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