Eastern Caribbean Central Bank 2024-2025 Annual Report

EASTERN CARIBBEAN CENTRAL BANK ANNUAL REPORT 2024 - 2025

Financial Stability

alongside published newspaper articles, ensuring broad public engagement and understanding of credit reporting. Significant progress has been achieved, with the successful engagement of all banks and credit unions across the ECCU. Subscriber agreements have been shared with all banks and credit unions, andseveral havebeensigned.Notably, inSeptember 2024, Antigua and Barbuda became the first ECCB member country to officially go live on the credit bureau system, marking a critical milestone in the region's credit reporting framework. A landmark achievement during the periodwas also the successful onboarding of the first credit union in the ECCU—the Saint Kitts Cooperative Credit Union—to the credit bureau system. This milestone represents a significant step toward broader financial sector participation and underscores the growing adoption of credit reporting within the region. The ECCB coordinated with the International Financial Corporation (IFC) to facilitate the ECCU Secured Transaction and Collateral Registry initiative across the ECCU. Grenada, as the second pilot member country to initiate the project, engaged consultants to assist in drafting the policy document and the legislative drafting instructions. The ECCB supported Grenada by engaging in discussions with consultants; sharing theMonetary Council-approved-policy documents; and reviewing the outputs of the consultants. Secured Transaction and Collateral Registry Reform

During the year discussions were held with member states and the IFC regarding the options and modalities available for the regional collateral registry. Collaborative project funding was approved by the Caribbean Development Bank (CDB) and the ECCB to propel the project. Greening the Financial System The Bank advanced efforts to enable ECCU countries to enhance climate resilience, financial and economic sustainability under the programme for Greening of the Financial System. Through initiatives such as the ECCUGreen Finance Strategy and Action Plan, Climate Risk Assessment and Stress Testing project and the Caribbean Resilient Renewable Energy Infrastructure Investment Facility (RREIIF), the programme aims to strengthen the capacity of the financial sector in environment and climate risk management. It also seeks to ramp up investments to finance the transition to sustainable economies. Over the past year, the Bank collaborated with implementing partners and member countries to complete the following: ; climate-related financial risk diagnostics and private sector green finance readiness assessments; ; country renewable energy appraisal missions; and ; a series of technical consultations, training sessions and webinars involving over 500 financial and non-financial sector actors including: utility providers, power sector regulators and suppliers, renewable energy developers, financiers, governments and the general public.

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