Grenada to get $10M loan from CDB to improve health sector

The Caribbean Development Bank (CDB) is giving Grenada a loan of $9,970,500, financed by the European Investment Bank (EIB) to develop the nation's overall health infrastructure. The project was launched at a function in the Grenadian capital, St. George.

The funds will be used to purchase both medical and non-medical equipment along with general supplies medical professionals use to carry out their day-to-day operations. A large part of the loan will be used to build high-capacity buildings, provide specialized medical and health training for healthcare workers, improve the supply chain management, warehousing and logistics in healthcare, and to fund the delivery costs of vaccines and vaccination campaigning.

The funds and financing are being sanctioned under the EIB Climate Action Line of Credit II - COVID-19 component, which aims to stabilize the region's healthcare sector post the COVID-19 pandemic with financing through backing from the European Union.

Several officials provided statements to the press in relation to the loan being sanctioned, Ambassador Malgorzata Wasilewksa of the EU Delegation to Barbados and the Eastern Caribbean Suggested that the EU will continue to advocate for universal health coverage and prioritize combatting current and future health threats in Grenada and the rest of the region.

CDB’s Division Chief, Social Sector Division, Dr. Martin Baptiste, suggested that the project will enhance the health sector's capability for the provision of care by improving response and resilience to the impacts of COVID-19 and increase the preparedness and capacity to respond to future health emergencies in Grenada.

Grenada’s Minister for Health, Hon. Philip A. Telesford, suggested that “their commitment extends beyond brick and mortar” it embraces the pulse of every citizen, the rhythm of every heartbeat seeking solace in better and more accessible health services for all our citizens and the components of this project, as meticulously crafted, are the keystones of our aspirations. The CDB-EIB project is expected to contribute to the following: An Improved health outcomes for Grenadians, by enhancing healthcare infrastructure, capacity, and systems, the project aims to improve the quality, accessibility, and effectiveness of healthcare services, ultimately leading to better health outcomes for the population. Increased resilience of the health sector, the project is likely to contribute to strengthening Grenada's health system's preparedness and response capacity to address future health challenges, including outbreaks and emergencies.

Economic and social development, by improving health outcomes and workforce capacity, the project can contribute to a healthier and more productive population in Grenada.

This project represents a significant collaboration between the CDB, EIB, and the Grenadian government, aiming to create a lasting positive impact on the nation's healthcare landscape. By addressing infrastructure deficiencies, upskilling the workforce, and bolstering overall preparedness, the initiative strives to ensure Grenadians have access to quality healthcare services now and in the face of future challenges.

The project serves as a testament to the collective effort in building a more resilient and firm healthcare system for Grenada, fostering a healthier future for its citizens.