The Eastern Caribbean Central Bank, working with the World Bank, has established a Resilient Renewable Energy Infrastructure Investment Facility for the Eastern Caribbean Currency Union (ECCU) to make it easier for the eight ECCB member countries to access financing for renewable energy projects. The facility is intended to support large-scale renewable energy development in a way that can attract private capital into renewable plants and help reduce the region’s fossil fuel import bill. It is designed to bundle support for project preparation, competitive procurement and financial innovation to reduce barriers to financing, and also aims to strengthen national power grids; ECCB officials highlighted technical assistance, capacity strengthening and direct support for financing as key elements. The programme is expected to be fully operationalised in 2025.
Eastern Caribbean Central Bank 2025-02-06
Eastern Caribbean Central Bank and World Bank establish renewable energy investment facility to improve project financing across the ECCU
The Eastern Caribbean Central Bank and the World Bank have launched a Resilient Renewable Energy Infrastructure Investment Facility for the Eastern Caribbean Currency Union to finance renewable energy projects. The initiative aims to attract private capital, reduce fossil fuel imports, and strengthen power grids through project preparation, competitive procurement, and financial innovation. Full operationalisation is anticipated in 2025.