ST. GEORGE’S, Grenada, Could 30, CMC – The Grenada authorities says it’s looking for to boost US$100 million in philanthropic capital grants for the development of a brand new hospital.
The Dickon Mitchell administration has introduced plans to ascertain a US$25 million account on the Jap Caribbean Central Financial institution (ECCB) in addition to allocate EC$23.6 million (One EC greenback=US$0.37 cents) within the 2025 nationwide price range in the direction of the proposed challenge.
Referred to as “Challenge Polaris” the proposed new 250-bed good tutorial hospital and the grasp growth of the 84-acre Hope Vale Medical Metropolis will function a nationwide and regional beacon for medical innovation, public-private healthcare supply, biotech analysis, and coaching of healthcare professionals.
“The capital marketing campaign will play a essential function in securing the philanthropic funding required to assist the development of key infrastructure, enlargement of programmes, strategic partnerships, and long-term institutional sustainability,” in keeping with a authorities discover labelled “Request for Expressions of Curiosity for Philanthropic Fundraising Consultancy Companies.”
The discover defined that the Grenada authorities is looking for a consultancy agency with a confirmed report of elevating a whole bunch of tens of millions of {dollars} by way of philanthropic campaigns, notably these involving advanced stakeholder environments, world donor cultivation, and mission-aligned storytelling throughout sectors comparable to healthcare, larger training, and social infrastructure.
“The Authorities of Grenada (GoG) invitations Expressions of Curiosity (EOIs) from certified, globally skilled philanthropic fundraising consultancy companies or consortia to assist the event and implementation of an formidable capital marketing campaign for Challenge Polaris, GOG’s landmark initiative to rework healthcare, medical training, and public well being analysis in Grenada and the OECS area,” stated the discover.
It described Challenge Polaris as Grenada’s flagship good healthcare and medical innovation growth.
The chosen fundraising consultancy will probably be anticipated to guide the design and execution of a worldwide capital marketing campaign concentrating on a minimum of US $100 million in philanthropic contributions; conduct a fundraising readiness and ecosystem evaluation; Determine high-potential donors and aligned establishments by way of prospect analysis and segmentation.
The federal government assertion provides that the agency can even need to develop a globally resonant case for assist tailor-made to the distinctive worth proposition of Challenge Polaris; advise on donor engagement methods, naming rights, and stewardship pathways and supply strategic counsel on governance, authorized, and compliance issues associated to philanthropic giving.
The consultancy agency can even need to assist the recruitment, onboarding, and coaching of fundraising personnel, as wanted; align storytelling, messaging, and communications with the objectives and imaginative and prescient of Challenge Polaris and its varied stakeholder teams and guarantee steady studying, reporting, and adaptive fundraising technique by way of marketing campaign phases.
Earlier than publishing the discover, the federal government had already accepted EC$405 million for the challenge by way of the 2025 Funds Mortgage Authorisation Act and has introduced that it’ll open an account on the St Kitts-based ECCB as a part of its technique to create a saving fund for the constructing of a brand new facility which is marketed as a capital funding in different authorities paperwork.
In March, Finance Minister Dennis Cornwall advised legislators that in 2025 the federal government will deal with finalizing key elements of the design and financing, to interrupt floor on the Hope Vale web site within the first half of 2026.
“An quantity of EC$23.6 million has been allotted for this Challenge in 2025,” Cornwall stated, earlier than asserting the choice to arrange the fund on the regional monetary establishment.
“Moreover, the Cupboard has accepted the institution of a Particular Fund on the ECCB into which a sum of US$25 million is to be deposited as Authorities’s contribution in the direction of the general financing of Challenge Polaris.
“Moreover, a small proportion of all NTF receipts will probably be put aside month-to-month, commencing June 2025 after finalizing the authorized necessities, to assist the graceful transition to the brand new Hospital as soon as accomplished,” he stated.
The federal government stated that the EC$405 million will probably be raised by way of loans, bonds, promissory notes, or different monetary devices.
On Could 14, the Authorities signed a 15-year collaboration and licensing settlement with Mt Sinai Worldwide that can make the brand new facility an affiliate of the Mount Sinai Well being System.
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