The government finalized an agreement with the People’s Republic of China for the New Providence Specialty Hospital on Friday. The facility is expected to cost $267 million, down from the originally projected $290 million. The hospital will be located on New Providence Highway, which runs between Saunder’s Beach and the Six-Legged Roundabout. Minister of Health and Wellness Dr. Michael Darville said most of the funding will be provided by the Export-Import Bank of China. “After further negotiation with China International Development Corporation Agency, the final financing framework agreement verified that 73 percent or $195 million of the project costs will be funded by the Chinese Export and Import Bank,” Darville said.
