The Vatican is facing another financial headache after donors to a major U.S. Catholic foundation balked at a request from Pope Francis to foot a $25 million loan to a scandal-plagued Rome hospital. The Vatican took over the hospital rather than let it fail, fearing for the livelihoods of its staff. "In many respects, the decision to grant $25 million to a dermatology hospital in Rome without proper due diligence is a disaster for the Papal Foundation." According to the audit committee summary, the first few million dollars of the loan were handed over without any supporting documentation from the hospital. In a Jan. 19 letter to the donors, the foundation's executive committee said that no further money would be provided to the Vatican for the hospital, leaving about half of the $25 million request unfunded.

Source: ABC News February 23, 2018 22:08 UTC