The Eastern Caribbean Central Bank announced that the World Bank-financed Caribbean Resilient Renewable Energy Infrastructure Investment Facility (RREIIF), developed under its leadership with Eastern Caribbean Currency Union (ECCU) member governments, won the 2025 Caribbean Infrastructure Forum (CARIF) Industry Award for Best/Most Innovative Financing. The award was accepted on 16 September in Miami by RREIIF project lead Kieran St Omer on behalf of the central bank. RREIIF is positioned as the Caribbean’s first regional platform designed to deliver utility-scale renewable energy through cross-country project aggregation, joint procurement and structured de-risking. It also marks the first deployment of the Eastern Caribbean Partial Credit Guarantee Corporation as a renewable energy risk-mitigation vehicle, providing partial credit guarantees tailored to renewable energy projects; the facility’s jointly developed governance model is described as not replicated in other Small Island Developing States. Phase I is under implementation in Grenada, Saint Lucia, and Saint Vincent and the Grenadines and has mobilised USD 115.0 million for renewable generation and power grid infrastructure. Phase II is under preparation and is expected to extend resources to additional countries including Saint Christopher (St Kitts) and Nevis and the Commonwealth of Dominica, with a longer-term aim to broaden participation and expand coverage to other climate-resilience infrastructure sectors.

Original source View in tracker