Eastern Caribbean Central Bank 2024-2025 Annual Report

EASTERN CARIBBEAN CENTRAL BANK ANNUAL REPORT 2024 - 2025

Financial Stability

Those activities were executed through the support of The World Bank Group, Agence Française de Développement (AFD), and the NDC Partnership. The Bank became a member of the Consultative Group for the Caribbean Chapter of the Glasgow Financial Alliance for Net Zero (GFANZ), which was launched on 13 March 2025. Through this, the Bank continued to leverage global partnerships to build the capacity of financial institutions and eliminate the barriers to private sector investments needed to spur economic growth. Resilient Renewable Energy Infrastructure Investment Facility During the year, work on establishing the Resilient Renewable Energy Infrastructure Investment Facility (RREIIF) focused on project preparation activities for facility operationalisation in 2025. The Bank, in partnership with the World Bank, held national consultations and due diligence missions, prepared, and published the project appraisal document and the environment and social commitment plan. Negotiations for an anchor funding package were held with the participating member governments and implementing institutions. Request for proposals were also prepared to secure consultancy services for policy document and legal amendments. The multi-instrument RE Facility will significantly scale up private investment in renewable energy by addressing market, institutional, financial, and infrastructure barriers to utility-scale projects. Countries will benefit from: 1. a risk mitigation fund providing partial credit guarantees and other credit enhancements

to mobilise private capital via green finance markets; 2. strengthening of national and regional institutional capacity and staffing for project development and preparation; technical support and advisory; project aggregation and procurement; 3. direct investments for renewable energy integration aimed at grid modernisation and resilient infrastructure; and 4. contingent emergency response mechanism to address liquidity and infrastructure restoration post-disasters. As of March 2025, the governments of Grenada, Saint Lucia and Saint Vincent and the Grenadines had successfully negotiated a multi-million-dollar anchor funding package with The World Bank to operationalise the RREIIF and finance a series of projects during its first phase of operations. The RE Facility is set to be operationalised in 2025; with the participation of the remaining member states enabled on a phased basis as the Bank works with all countries, development partners and multi-donor funds to secure more concessional and grant resources for project development and financing. “This Facility is an important vehicle for our journey to build institutional and generating capacity, enhance energy security, boost competitiveness and lower electricity prices for our families and businesses.” ~ Governor Antoine.

VIEW - More about the Resilient Renewable Energy Infrastructure Investment Facility

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