The Eastern Caribbean Central Bank

09/17/2025 | Press release | Distributed by Public on 09/17/2025 15:06

RREIIF, A World Bank-ECCB Joint Initiative, Wins Caribbean Infrastructure Forum (CARI...

17 September 2025, Basseterre, Saint Christopher (St Kitts) and Nevis - The World Bank-financed Caribbean Resilient Renewable Energy Infrastructure Investment Facility (RREIIF)-developed under the leadership of the Eastern Caribbean Central Bank (ECCB) in partnership with ECCU member governments-is the winner in the 2025 Caribbean Infrastructure Forum (CARIF) Industry Awards' Best/Most Innovative Financing category.

ECCB's Project Lead for the RREIIF, Kieran St Omer, accepted the CARIF Industry Award on behalf of the Central Bank on Tuesday, 16 September in Miami, Florida at the Ninth Annual Caribbean Infrastructure Forum. This is the third edition of the CARIF Industry Awards, which recognise outstanding infrastructure projects and programmes that are transforming the Caribbean.

RREIIF is the first energy facility in the Caribbean designed as a regional platform to deliver utility-scale renewable energy through cross-country project aggregation, joint procurement, and structured de-risking. It marks the first-time deployment of the Eastern Caribbean Partial Credit Guarantee Corporation (ECPCGC) as a vehicle for renewable energy risk mitigation, offering partial credit guarantees tailored specifically to renewable energy projects. The facility also represents a first in terms of governance; jointly developed over several years by ECCU countries and anchored by the ECCB, no similar structure exists in other Small Island Developing States (SIDS).

Phase I, which is now under implementation in Grenada, Saint Lucia, and Saint Vincent and the Grenadines, has mobilised US$115.0 million, focusing on renewable generation and power grid infrastructure.

Phase II, under preparation, will expand to provide more resources to additional countries including Saint Christopher (St Kitts) and Nevis and the Commonwealth of Dominica, with a long-term vision to widen participation of Caribbean countries and expand coverage to other infrastructure sectors critical to climate resilience.

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Appendix - Recognition of Excellence in the Past Eight Years

  1. Reconnaissance International's High Security Printing (HSP) Latin America conference honoured the ECCB's 40th Anniversary Commemorative $2-Dollar Note with the 2024 Best New Commemorative Banknote Award.
  2. The ECCB's 40th Anniversary Commemorative $2-Dollar Note won the Best Limited Circulation/Commemorative Banknote Award in the 2024 Excellence in Currency: Technology Awards, presented by the International Association of Currency Affairs (IACA).
  3. The International Bank Note Society (IBNS) voted the ECCB's 40th Anniversary Commemorative $2-Dollar Note as the 2023 IBNS Banknote of the Year.
  4. The Caribbean Renewable Energy Forum's (CREF) jointly awarded Solar Island Energy and the ECCB with the 2023 Best Microgrid Award, for the design of the ECCB microgrid/solar canopy project.
  5. ECCB Connects captured the prize for Best Communications Initiative in the 2023 Central Banking Awards; ECCB's weekly public education programme first aired on 6 April 2016.
  6. In 2022, the ECCB won the Central Banking Green Initiative Award for installing its solar canopy project at the Bank's headquarters and significantly reducing its carbon footprint.
  7. Also in 2022, the ECCB received the Best New Banknote Series Award from Reconnaissance International for its EC polymer banknotes launched on 29 May 2019.
  8. In 2021, the ECCB won the Central Bank Digital Currency (CBDC) Infrastructure Award for DCash at the FinTech & RegTech Global Awards hosted by Central Banking.
  9. In 2018, GlobalMarkets named ECCB Governor Timothy N.J. Antoine Central Bank Governor of the Year for the Caribbean.
  10. In 2017, at the World Institute for Action Learning (WIAL) Global Conference, the ECCB won the WIAL Best Application Award for having implemented Action Learning in its operations in a way that created significant impact.

About the Eastern Caribbean Central Bank

The Eastern Caribbean Central Bank (ECCB) was established in October 1983. The ECCB is the Monetary Authority for: Anguilla, Antigua and Barbuda, Commonwealth of Dominica, Grenada, Montserrat,
Saint Christopher (St Kitts) and Nevis, Saint Lucia and Saint Vincent and the Grenadines.

Media Contact: Shermalon Kirby, Director, Corporate Relations Department
Phone: (869) 465-2537 | Mobile: (869) 662-2561
E-mail: [email protected]

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The Eastern Caribbean Central Bank published this content on September 17, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on September 17, 2025 at 21:06 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]