CARIBBEAN-FINANCE-OECS countries benefit from World Bank-financed credit union project
WASHINGTON, CMC – The World Bank says the Organisation of Eastern Caribbean States (OECS) has benefitted from an initiative to strengthen accountability within the non-banking financial sector.
It said with credit unions being “key players’ within the nine-member sub-regional grouping, the “Strengthening the Accountability of the Non-Bank Financial Sector in the OECS” has benefitted from a US$455,000 grant from its Institutional Development Fund (IDF).
The bank said the project helped develop and implement medium-term strategic plans for oversight and regulation of non-banking financial institution and that it supported the development of comprehensive financial regulations and supervision manuals.
The Washington-based financial institution said the project also delivered a sub-regional training programme focused on financial and prudential reporting requirements for regulators and industry practitioners.
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