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Guyana government asks House to inject GY$332.6M into Hess/Mount Sinai healthcare initiative

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The Guyana Government on Thursday submitted to the National Assembly, a request for supplementary funding totaling GY$44.7 billion for the fiscal year 2022. Of that sum, GY$332.6 million (nearly US$1.6 million) is being sought for withdrawal from the Consolidated Fund to support a national health care initiative that has been embarked on in concert with Hess Corporation and Mount Sinai Hospital.

Hess Corporation is one of the key investment partners in the oil-rich Stabroek Block which currently holds almost 11 billion barrels of oil-equivalent resources.

As for the Mount Sinai Health System, it is one of the largest academic medical systems in the New York metro area, with more than 43,000 employees working across eight hospitals, over 400 outpatient practices, over 300 labs, a school of nursing, and a leading school of medicine and graduate education.

Senior Finance Minister, Dr Ashni Singh laid the Supplementary Paper in the House noting that the initiative is in keeping with the government’s goal to transform the health sector.

He was keen to remind it was on July 8, last that President Dr. Mohamed Irfaan Ali launched the healthcare initiative.

The minister noted that the initiative allows the Mount Sinai/Hess Corporation partnership to work with the Government of Guyana to assist and advise the oil-producing State on how to develop and implement a high-quality primary healthcare system including specialised services in cardiology and oncology, to bring about significant improvement at the Georgetown Public Hospital Corporation (GPHC).

Hess is providing funding to the tune of almost US$32M. The project is slated to last for three years.

A 40+ member project team of leading healthcare experts from the Mount Sinai Health System, including Mount Sinai International and the Arnhold Institute of Global Health arms of Mount Sinai dedicated to advancing the institution’s mission of delivering innovative, high-quality healthcare around the globe, will begin work this summer on implementation in partnership with the Government.

The Stabroek Block co-venturers, including Hess, have been held in high standard when it comes to the fulfillment of their corporate social responsibility and, in this regard, have donated to several projects and causes. Hess’ Chief Executive Officer, John Hess, said recently that the goal is to help Guyana become a regional logistical powerhouse.

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