UK insurance group Prudential has provided £85 mln (€115 mln) of financing for a new children’s hospital in Edinburgh, Scotland.

UK insurance group Prudential has provided £85 mln (€115 mln) of financing for a new children’s hospital in Edinburgh, Scotland.

The facility is being built by a consortium headed by Brookfield Multiplex and is scheduled to open in 2017. The six-storey building will replace the Royal Hospital for Sick Children in the Scottish capital and incorporate clinical neurosciences and child and adolescent mental health services.

The hospital is being built next to the new Edinburgh Royal Infirmary facility at Little France, opened in 2003 at a total cost of £184 mln.

Prudential’s funding will be complemented by €85 mln from the European Investment bank and €15 mln from Macquarie Capital.

Simon Pilcher, chief executive of fixed income at M&G investments, said: ‘Both Prudential and M&G are committed to investing in infrastructure projects that benefit the UK and we are proud to play our part in the opening of the new hospital.’