Central Bank Approves $500k Grant Funding For COVID-19 Response In Antigua

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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$4.0m (EC$500,000 each), to the ECCB Member Governments, to help in their fight against the Novel Coronavirus (COVID-19).  

On 11 March 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 13 March 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, the 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”.

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4 COMMENTS

  1. Why cant the insurance companies come together in each island and offer their govt an amount to assist in fighting the Covid=19 virus…… Year after year they have been collecting monies from their clients and only a small percentage benefit…..

    • Really….I have wonder if it is hysteria or tongue in cheek statements because the sort of things you people come up with leaves me wondering if you all are for real!

  2. Where did this money come from?

    This new money will create inflation, and a further devaluing of the currency.

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