Governor of the Eastern Caribbean Central Bank (ECCB) Timothy N J Antoine said he is pleased with the successes the bank has achieved over the past year and the impact of its work on the people of the Eastern Caribbean Currency Union (ECCU).
Speaking at the ECCB’s 2024 Staff Gala and Awards held at the Marriott Resort in St Christopher (St Kitts) and Nevis on 7 December, Governor Antoine highlighted 3 areas of which he is particularly pleased:
- the progress made with the ease of opening bank accounts
- the establishment of the ECCU Credit Bureau and
- the work of the Eastern Caribbean Partial Credit Guarantee Corporation (ECPCGC)
“As of 1 December, we have given certain guidance to our banks to make it easier for people to open bank accounts. That’s something we have worked on in the past year and I’m very pleased that we can bring some direct impact to the public in regard to the ease of opening bank accounts,” Governor Antoine said. “I am also pleased that this year we saw the rollout of the credit bureau, a long dream and ambition of our currency union. It was launched in Antigua and Barbuda and in the next few months, the legislation will be passed in all 8 member countries” the Governor added.
The Governor also highlighted the achievements of the Eastern Caribbean Partial Credit Guarantee Corporation (ECPCGC), noting that the corporation has issued in excess of 130 loans valued at over $15 million. “This is a programme that we launched during the pandemic to help small businesses access credit, it has been a little slow but it is now taking off,” Governor Antoine said. He pointed out that in order to achieve the ambitious “Big Push” small businesses across the ECCU must grow and take off.
Governor Antoine said that in the next few months, the ECCB will continue to push its wealth creation agenda as it seeks to get the people across the ECCU to move from being savers to investors.
The Governor also recalled with fondness and excitement, the ECCB’s success of capturing the 2nd place trophy at the 13th Intra-Regional Central Bank Games held in the Bahamas in April.
ECCB
