The Eastern Caribbean Enterprise Fund (ECEF) was incorporated in St Kitts and Nevis on 11 October 2009. The Eastern Caribbean Central Bank (ECCB) has undertaken the establishment of the ECEF as a part of its commitment to foster the development of the private sector and money and capital markets in the Eastern Caribbean Currency Union (ECCU). The ECEF is being positioned to be a mechanism for attracting investment capital and channeling those resources to promote the development of private sector enterprises in the region. In this regard, the ECEF will complement existing financial intermediation services of providers in the ECCU by offering a wide range of services to assist in filling the current gap with respect to the availability of requisite financing and technical support. Additionally, the ECEF will foster the creation and growth of productive sectors in the economies of the region through the injection of equity and debt financing.
It is envisioned that the ECEF will serve as the apex institution within the ECCU for financing the productive sectors in the ECCU. In this regard, the Fund is expected to play a key role in transforming the region by serving as a catalyst to (i) create and lead the investment in a number of ‘flagship’ companies and SMEs in sectors with a competitive advantage; (ii) establishing linkages with regionally and globally relevant strategic partners; and (iii) developing the entrepreneurial standard in the region. In addition, as the first regional fund of its type in the ECCU, the ECEF will also play a key role in the promotion of a private equity/venture capital industry in the region.
The ECCB is currently collaborating with several international and regional strategic partners in its efforts to operationalise the ECEF. It is expected that the institution will become operational in 2011.