Grenada Seeking to Raise US$100 Million For Construction of New Hospital
ST. GEORGE’S, Grenada – The Grenada government says it is seeking to raise US$100 million in philanthropic capital grants for the construction of a new hospital.
Prime Minister Dickon Mitchell (File Photo)The Dickon Mitchell administration has announced plans to establish a US$25 million account at the Eastern Caribbean Central Bank(ECCB) as well as allocate EC$23.6 million in the 2025 national budget towards the proposed project.
Called “Project Polaris” the proposed new 250-bed smart academic hospital and the master development of the 84-acre Hope Vale Medical City, will serve as a national and regional beacon for medical innovation, public-private healthcare delivery, biotech research, and training of healthcare professionals.
“The capital campaign will play a critical role in securing the philanthropic investment required to support the construction of key infrastructure, expansion of programs, strategic partnerships, and long-term institutional sustainability,” according to a government notice labelled “Request for Expressions of Interest for Philanthropic Fundraising Consultancy Services.”
The notice explained that the Grenada government is seeking a consultancy firm with a proven record of raising hundreds of millions of dollars through philanthropic campaigns, particularly those involving complex stakeholder environments, global donor cultivation, and mission-aligned storytelling across sectors such as healthcare, higher education, and social infrastructure.
“The Government of Grenada (GoG) invites Expressions of Interest (EOIs) from qualified, globally experienced philanthropic fundraising consultancy firms or consortia to support the development and implementation of an ambitious capital campaign for Project Polaris, GOG’s landmark initiative to transform healthcare, medical education, and public health research in Grenada and the OECS region,” said the notice.
It described the Project Polaris as Grenada’s flagship smart healthcare and medical innovation development.
The selected fundraising consultancy will be expected to lead the design and execution of a global capital campaign targeting at least US $100 million in philanthropic contributions; conduct a fundraising readiness and ecosystem assessment; Identify high-potential donors and aligned institutions through prospect research and segmentation.
The government statement adds that the firm will also have to develop a globally resonant case for support tailored to the unique value proposition of Project Polaris; advise on donor engagement strategies, naming rights, and stewardship pathways and provide strategic counsel on governance, legal, and compliance matters related to philanthropic giving.
The consultancy firm will also have to support the recruitment, onboarding, and training of fundraising personnel, as needed; align storytelling, messaging, and communications with the goals and vision of Project Polaris and its various stakeholder groups and ensure continuous learning, reporting, and adaptive fundraising strategy through campaign phases.
Before publishing the notice, the government had already approved EC$405 million for the project through the 2025 Budget Loan Authorisation Act and has announced that it will open an account at the St. Kitts-based ECCB as part of its strategy to create a saving fund for the building of a new facility which is market as a capital investment in other government documents.
In March, Finance Minister Dennis Cornwall told legislators that in 2025 the government will focus on finalizing key aspects of the design and financing, with the aim of breaking ground on the Hope Vale site in the first half of 2026.
“An amount of EC$23.6 million has been allocated for this Project in 2025,” Cornwall said, before announcing the decision to set up the fund at the regional financial institution.
“Additionally, the Cabinet has approved the establishment of a Special Fund at the ECCB into which a sum of US$25 million is to be deposited as Government’s contribution towards the overall financing of Project Polaris.
“Furthermore, a small percentage of all NTF receipts will be set aside monthly, commencing June 2025 after finalizing the legal requirements, to support the smooth transition to the new Hospital once completed,” he said.
The government said that the EC$405 million will be raised through loans, bonds, promissory notes or other financial instruments.
On May 14, the Government signed a 15-year collaboration and licensing agreement with Mt Sinai International that will make the new facility an affiliate of the Mount Sinai Health System.
