The Government of Grenada today signed a financing agreement with the OPEC Fund for International Development (the OPEC Fund) to advance the construction of Grenada’s new national hospital under Project Polaris, the country’s flagship healthcare transformation initiative.
This agreement for US$30 million is the first tranche of a US$60 million financing framework agreement signed with the OPEC Fund in December 2025 for the construction of the new hospital, a central component of the Hope Vale Medical City.
The signing ceremony took place at the Panama Convention Centre, Panama City, Panama, on the sidelines of the Latin America and the Caribbean International Economic Forum 2026. The Grenadian delegation was led by Minister for Finance Honourable Dennis Cornwall, and included Project Polaris Project Sponsor Ambassador Andrea St Bernard, Deputy Permanent Secretary in the Ministry of Finance Chevanne Britton-Telesford, and Lead Strategic and Financial Advisor and Project Consultant Damian Dolland.
Speaking following the signing, Ambassador St Bernard said, This agreement represents a critical step in turning years of planning into tangible progress. It allows us to move confidently toward building a modern hospital and laying the foundation for a stronger, more integrated health system for all Grenadians.”
This milestone represents a significant step forward in the implementation of Project Polaris, which is designed to strengthen healthcare delivery, expand access to modern medical services, and support a patient-centred health system for Grenada, Carriacou, and Petite Martinique.
The Government of Grenada expressed appreciation to the OPEC Fund for its continued partnership in supporting national development priorities and improving health outcomes for the people of Grenada.
Project Polaris
It took these joker 3 years and counting to modify half a mile of road on the cliff and you are expecting them to pull of hospital not needed by Grenadian and not for Grenadian while expecting Grenadians to pay for it?
These folks can’t even get the location of this so-called hospital straight or whether its a hospital for us or tourist. If Grenadians want to set back and let these people mortgage our children and grand children’s future, we better start purchasing our winter gear early for Project Polaris or better yet Project Snow.
Let us remember that Mt. Sinai is being US$2.5 million/year for trivialities the next decade while we continue to lack medication and proper diagnostic tools at our current hospital.
Project Polaris, like St. George’s University (Gairy’s initiative) and the Maurice Bishop International Airport (Bishop’s initiative) would be transformational in character. A monumental boost to national health standards, as well as a tremendous positive impact in the form of health tourism are anticipated. Projects like these are what countries need for long term, qualitative improvements in the standards of the lives of their citizens. Sustainable development.