Coronavirus: ECCB Approves $4-Million Grant To Member Governments

Press Release

On the recommendation of the ECCB Board of Directors, the Monetary Council of the Eastern Caribbean Central Bank (ECCB) has approved grant funding, in the sum of EC$4 million (EC$500,000 each) to the ECCB Member Governments to help in their fight against the novel coronavirus (COVID-19).

On March 11, 2020, the World Health Organisation (WHO) declared COVID-19 a global pandemic. The ECCB is fully cognisant of the potential economic, financial and social impact of COVID-19 on member countries.

Half of the grant was disbursed on March 13 to purchase testing and other critical equipment to detect, contain and manage COVID-19.

The remainder will be utilised to procure equipment and supplies such as ventilators and drugs through the Organisation of Eastern Caribbean States Pharmaceutical Procurement Service (OECS PPS), a bulk procurement mechanism.

In commenting on the decision, Chairman of the Monetary Council, Dr The Right Honourable Keith Mitchell, Prime Minister and Minister of Finance for Grenada, noted: “We are facing an unprecedented situation with the COVID-19 pandemic. Our countries are very appreciative of this thoughtful and practical gesture by the Bank.”

About adminrfm 3063 Articles
We, at Real fm are dedicated to change the recreation activities in the island Grenada. Our vision is to become widely known and respected as one of the best places to relax and have fun anywhere.