Hospital board cuts philanthropy funds target

THE board tasked with developing the new national children’s hospital has slashed by almost 50% the amount it is hoping to raise in charitable donations towards the estimated €650 million cost of the project.

In a sign of the times, an original target of €110m raised through philanthropy has been revised downwards to €60m. However the board is hopeful that this can be clawed back through a series of financial strategies such as paying an annual unitary charge on equipment rather than buying it and an annual unitary charge on energy services.

CEO of the development board, Eilish Hardiman, said they are also hoping to cut the cost of the project in an increasingly competitive construction market.