Eastern Caribbean Central Bank 2024-2025 Annual Report

EASTERN CARIBBEAN CENTRAL BANK ANNUAL REPORT 2024 - 2025

Environmental, Social and Corporate Governance

Citizenship by Investment Programmes Initiative

The ECCB continued to work with the Citizenship by Investment Programmes (CIP/CBI) Technical Group and stakeholders to advance the cause of the Programmes in the ECCU. Given the significance of the Programmes to the

Engagement with CIP/CBI programmes stakeholders Saint Christopher and Nevis - March 2025

survival of the economies of the ECCU, the countries continued to make progress on implementing the Six CBI Principles, which the Heads of Government had initially agreed to inMarch 2023. Countries have also agreed to cooperate and share information, to enhance the integrity and security of the Programmes. ECCB has been providing technical and administrative support tomember countries towards the establishment of aRegional Regulator for CIP/CBI. In September 2024, an eight-member InterimRegulatory Commission (IRC) was appointed. The IRC comprises a representative from each CIP/CBI country, along with representatives from the ECCB, OECS Commission and CARICOM IMPACS/Joint Regional Communications Centre. The ECCB Governor chairs the IRC. Themain objective of the IRC is to oversee the establishment of the Regional Regulator, which would set standards, regulate and supervise the CIP/CBI Programmes to enhance their governance. The key goals are to protect and sustain the Programmes for the development of the region. The IRC, through a competitive request for proposal process, selected a legal drafting consultant to develop the legislative framework that would establish the Regional Regulator. Commencing in March 2025, the IRC held a series of broad and inclusive in-country consultations with stakeholders from government, the CIP/CBI industry and social partners, to sensitize them about the Regional Regulator Initiative and to solicit their feedback to guide the drafting of the legislation. By the end of March 2025, consultations for Saint Christopher (St Kitts) and Nevis, the Commonwealth of Dominica and Grenada were concluded. The consultations in Saint Lucia and Antigua and Barbuda are scheduled for April 2025.

Engagement with CIP/CBI programmes stakeholders Saint Lucia - March 2025

Engagement with CIP/CBI programmes stakeholders Grenada - March 2025

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