The Tribune

By EARYEL BOWLEG

Tribune Staff Reporter

ebowleg@tribunemedia.net

THE Chinese government is in the final stages of approving a concessional loan to fund the construction of a new specialty hospital in New Providence, according to Chinese Ambassador Yan Jiarong.

Ambassador Yan expressed confidence that there will soon be “good news” regarding the loan approval.

Health and Wellness Minister Michael Darville met with the Export-Import (EXIM) Bank of China Vice President Yang Dongning and China International Development Cooperation Agency (CIDCA) Hu Zhangliang during the Fourth Ministerial Meeting of the China-CELAC Forum held on May 13 in Beijing.

The planned 200-bed facility, to be located in the Perpall Tract area, will primarily serve women and children. The hospital is expected to be constructed on 50 acres and will include services such as a Neonatal Intensive Care Unit, diagnostic and imaging services, a blood bank, and will function as a teaching hospital.

Dr Darville previously said the government aims to break ground on the new hospital by September 2024, although that deadline was missed. He said the hospital had an expected of $290m. The project has been approved for concessional financing from the Chinese state-owned bank, with a 20-year loan at an interest rate of just 2 percent.

Ambassador Yan assured that the Chinese government would provide a concessional loan to build the hospital. The Bahamian side has completed all required materials, and it is now up to the Chinese side to “speed up the process”. The final amount will be released once internal approvals are complete and a government-to-government framework agreement is signed.