In a significant development for Caribbean healthcare infrastructure, Grenada has formalized a major financing arrangement with the OPEC Fund for International Development to accelerate its flagship medical modernization initiative. The $30 million agreement, signed during the Latin America and the Caribbean International Economic Forum 2026 in Panama City, represents the initial disbursement within a broader $60 million financial framework established in December 2025.
The signing ceremony, attended by Grenada’s Minister for Finance Honourable Dennis Cornwall and Project Polaris Sponsor Ambassador Andrea St Bernard, marks a pivotal advancement for the Hope Vale Medical City development. This comprehensive healthcare transformation project aims to establish a state-of-the-art medical facility that will serve as the cornerstone of Grenada’s revamped health ecosystem.
Ambassador St Bernard emphasized the agreement’s transformative potential, stating: ‘This partnership enables the transition from extensive planning phases to concrete implementation. We are building not just a modern hospital facility, but laying the groundwork for an integrated, patient-focused healthcare system that will benefit all citizens of Grenada, Carriacou, and Petite Martinique.’
The Project Polaris initiative represents Grenada’s ambitious strategy to enhance medical service delivery, expand access to contemporary healthcare technologies, and establish a resilient health infrastructure capable of meeting the nation’s evolving needs. The government acknowledged the OPEC Fund’s ongoing collaboration in supporting national development priorities and improving health outcomes for the Grenadian population.