News

7 October 2025, Basseterre, Saint Christopher (St Kitts) and Nevis – The Regional Government Securities Market (RGSM), in partnership with the Eastern Caribbean Central Bank (ECCB), has launched a new Retail Bond Initiative to make government securities more accessible to everyday citizens across the Eastern Caribbean Currency Union (ECCU).

For more than 20 years, the RGSM has provided governments with a reliable avenue to raise funds for development, mobilising about EC$20.7 billion to date. Yet household participation remains limited, with just 1.5 per cent ($310.3m) of that total coming from individuals and only 600 people having ever invested.

Fiscal and Debt Specialist at the ECCB, Juletta Edinborough, said the new initiative seeks to change this by putting investment opportunities directly within reach of households.  She explained that, after the Regional Debt Coordinating Committee (RDCC)—the oversight body for the RGSM— requested that steps be taken to encourage greater market participation by households, ECCB’s Research, Statistics and Data Analytics Department (RSDAD) conducted a survey.  The survey revealed three key barriers that kept individuals from investing on the RGSM: (i) the high minimum investment amount of EC$5,000; (ii) high fees; and (iii) lack of knowledge.  In response, the RDCC, in partnership with the ECCB, developed the retail bond initiative.

“We have taken action. This is a first step in moving individuals from Savers to Investors. So we encourage ECCU citizens and residents to take advantage of this investment product that we are bringing to the market,” the Fiscal and Debt Specialist said.

A retail bond is a type of debt security specifically targeted at retail or individual investors rather than large institutional investors, and is more affordable and accessible for households than traditional wholesale bonds.

Features of the ECCU Retail Bond

• Who can invest: Any individual who meets the basic requirements (such as identification and compliance with financial regulations) may invest, through a licensed broker.
• Issuers: The Governments of Grenada and Saint Christopher (St Kitts) and Nevis will be issuing the inaugural retail instruments.
• Minimum investment: EC$500 (in increments of $100).  Lowered from EC$5,000 and increments of EC$1,000.
• Maximum investment: EC$50,000 per investor.
• Interest rate: 4.25% annually.
• Term: Two years (principal repaid in full at maturity).
  
  Licensed Brokers

Investors can participate through any of the six licensed brokers on the RGSM:

• Bank of Saint Lucia Limited
• Bank of Saint Vincent and the Grenadines Limited
• First Citizens Investment Services Limited
• Grenada Co-operative Bank Limited
• St Kitts-Nevis-Anguilla National Bank Limited
• The Bank of Nevis Limited

With the introduction of the Retail Bond Initiative, the RGSM and ECCB are broadening opportunities for households across the ECCU to participate in the financial market, while strengthening savings, enhancing resilience, and contributing to the region’s sustainable development.

For more information on the licensed brokers and how to participate in the Retail Bond Initiative, visit https://www.ecseonline.com/broker-dealer/ and www.eccuretailbond.com.

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About the Eastern Caribbean Central Bank 
The Eastern Caribbean Central Bank (ECCB) was established in October 1983. The ECCB is the Monetary Authority for: Anguilla,
Antigua and Barbuda, Commonwealth of Dominica, Grenada, Montserrat, 
Saint Christopher (St Kitts) and Nevis, Saint Lucia and Saint Vincent and the Grenadines. 

Media Contact: Shermalon Kirby, Director, Corporate Relations Department
Phone: (869) 465-2537 | Mobile: (869) 662-2561
E-mail: info@eccb-centralbank.org 

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