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).<\/p>\n
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.<\/p>\n
Half of the grant was disbursed on March 13 to purchase testing and other critical equipment to detect, contain and manage COVID-19.<\/p>\n
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.<\/p>\n
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: \u201cWe are facing an unprecedented situation with the COVID-19 pandemic. Our countries are very appreciative of this thoughtful and practical gesture by the Bank.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
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