The Eastern Caribbean Central Bank (ECCB) was established in October 1983. It is the Monetary Authority for a group of eight island economies namely - Anguilla, Antigua and Barbuda, Commonwealth of Dominica, Grenada, Montserrat, St Kitts and Nevis, Saint Lucia, and St Vincent and the Grenadines.
The Agreement establishing the ECCB as the monetary authority for the eight ECCB participating governments, was signed on 5 July 1983 in Trinidad and Tobago. The ECCB was officially commissioned on 1 October 1983, replacing the Eastern Caribbean Currency Authority (ECCA) which was established in March 1965.
The primary objective of the ECCB is to maintain the stability of the Eastern Caribbean Currency and the integrity of the banking system.
Signing of the ECCB Agreement 5 July 1983: L-R: Hon Lester Bird - Deputy Prime Minister, Antigua and Barbuda; Hon Maurice Bishop - Prime Minister, Grenada; Hon John Osborne - Chief Minister, Montserrat; Mr Cecil Jacobs - Governor, ECCB; Mr Vaughn Lewis - Director General - OECS; Hon Dame Mary Eugenia Charles - Prime Minister, Commonwealth of Dominica; Hon Kennedy Simmons - Prime Minister, St Kitts and Nevis; Hon John Compton - Prime Minister, Saint Lucia; Hon Milton Cato - Prime Minister, St Vincent and the Grenadines. Anguilla became a full member of the ECCB on 1 April 1987.