Grant funding has been disbursed to Grenada and St Vincent and the Grenadines in the sum of EC$1 million each by the Monetary Council of the Eastern Caribbean Central Bank (ECCB), acting on the recommendation of the ECCB Board of Directors.
A statement said the grant will support the ECCU countries’ critical relief efforts following the destructive passage of Hurricane Beryl.
On July 1, 2024, Beryl, a Category 4 hurricane, bordering on Category 5 with sustained winds of 150 mph, severely damaged Grenada and her sister isles of Carriacou and Petite Martinique along with neighbouring St Vincent and the Grenadines and her sister isles including Union Island and Mayreau, leaving a trail of death and devastation.
As supervisor and regulator of the financial system in the Eastern Caribbean Currency Union (ECCU), the ECCB says it stands in strong solidarity and empathy with their affected member countries and remains ready to support them in every possible way.
To that end, it has provided guidance to its licensees (banks) as they work with affected customers.
ECCB Governor Timothy N.J. Antoine said: “The pain being experienced by Grenada and St Vincent and the Grenadines is deep, and the situation is heart-wrenching. However, we are comforted in knowing that our resilience as a people is time-tested and strong. We also know that, with the help of our God and our collective hard work, we shall rebuild stronger.”