ECCB 2015/2016 Annual Report

EASTERN CARIBBEAN CENTRAL BANK

date there have been 2,786 graduates emerging from 84 cohorts of the ECCB Saving and Investment course while the ECCB Entrepreneurship course, which has now been institutionalised in the eight ECCB member countries has produced 303 graduates and 14 cohorts since its inception. New Initiatives for Development of ECCU Financial Sector Financial Sector Reform and Strengthening Initiative (FIRST) The FIRST Initiative is a World Bank project which seeks to support the diversification of the financial system in the OECS. The key areas of focus are: access and depth, financial efficiency and financial stability. The project seeks to support the strengthening of the financial sector and improvement of access to financial services in the Eastern Caribbean Currency Union (ECCU) by Micro, Small and Medium Enterprises (MSMEs) by (i) widening of loan services supply to private MSME; and (ii) strengthening of financial education for individuals and private MSME. The SBFIC is based in Germany. The ECCU Mentorship School Programme The ECCB Mentorship School Programme continued throughout the ECCB eight member countries. The over 800 participating students were engaged in lessons which covered the role and functions of the ECCB, the economy, Caribbean Trade and Culture and international relations. The Savings Bank Foundation for International Cooperation (SBFIC) Project

The winners of The Business Solutions Think Tank and Hackathon were as follows: • First Place: DigiCrops (Montserrat) - an online marketplace which seeks to simplify the process of selling vegetables and other crops in the Caribbean by connecting farmers directly to buyers through the use of an ‘app’; • Second Place: Clink(Cari-Link) (Antigua and Barbuda) - seeks to address the challenges and pressures facing small and medium enterprises within the OECS and across the wider Caribbean, particularly inter-island trade; and • Third Place: EdConnector.ai (Anguilla) - allows teachers to engage in direct dialogue with the parents of their students on issues related to the child’s academic development. Financial and Business Training The ECCB continued to demonstrate its commitment to the development of the people it serves through its savings and investments courses; entrepreneurship courses; and small business workshops which were launched in 2003, 2010 and 2012 respectively. To Adviser, Corporate Relations Department, ECCB - Sybil Welsh at opening ceremony for Business Solutions Think Tank and Hackathon on 13 August 2015 L-R: Managing Director, Quintessence Consulting - Telojo Onu; CEO, I Gotem, St Kitts and Nevis - Sharon Simmons; then Goveror of the ECCB - Hon Sir K Dwight Venner;

20

ECCB A nnual R eport 2015/2016