The Eastern Caribbean Central Bank (ECCB) and the World Bank have marked the signing of a USD 115.0 million concessional anchor financing package for Phase One of the Caribbean Resilient Renewable Energy Infrastructure Investment Facility, formalising participation by Grenada, Saint Lucia, Saint Vincent and the Grenadines, and the Eastern Caribbean Partial Credit Guarantee Corporation (ECPCGC). A separate agreement was also executed with Saint Christopher (St Kitts) and Nevis for a project preparation grant to support its participation in Phase Two. The Caribbean Resilient Renewable Energy Infrastructure Investment Facility is a regional World Bank-financed initiative developed under ECCB leadership with Eastern Caribbean Currency Union member governments and is designed to be scalable. It combines technical support for project preparation with a regional risk mitigation fund, including partial credit guarantees and other credit enhancements implemented through the ECPCGC, alongside funding for grid modernisation, battery storage, and emergency response in the event of a crisis. Phase One implementation is being rolled out in Grenada, Saint Lucia and Saint Vincent and the Grenadines. Phase Two is underway, with Saint Christopher (St Kitts) and Nevis and the Commonwealth of Dominica confirming participation and being enabled via project preparation grants.
Eastern Caribbean Central Bank 2025-07-17
Eastern Caribbean Central Bank and World Bank sign USD 115 million anchor financing for Caribbean Resilient Renewable Energy Infrastructure Investment Facility
The Eastern Caribbean Central Bank and the World Bank signed a USD 115 million concessional financing package for Phase One of the Caribbean Resilient Renewable Energy Infrastructure Investment Facility, involving Grenada, Saint Lucia, Saint Vincent and the Grenadines, and the Eastern Caribbean Partial Credit Guarantee Corporation. Led by ECCB, it aims to provide technical support, risk mitigation, and funding for grid modernization and emergency response. Phase Two includes Saint Christopher (St Kitts) and Nevis and the Commonwealth of Dominica, supported by project preparation grants.