Government of Grenada
Jan 29, 2026
The Government of Grenada Signs US$60 million financing agreement with the OPEC Fund for Project Polaris (Grenada's New Smart, Academic Hospital)
The Government of Grenada today signed a $60 million financing agreement with the @opecfund 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.
The signing ceremony took place at the Panama Convention Center, 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 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, Project Sponsor Ambassador Andrea 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.
About the OPEC Fund
The OPEC Fund for International Development is a multilateral development finance institution established in 1976 by the member states of the Organization of the Petroleum Exporting Countries (OPEC). Headquartered in Vienna, Austria, the Fund is dedicated to promoting sustainable development and eradicating poverty by supporting essential projects across more than 125 countries in sectors such as energy access, clean water, healthcare, education, and food security.