The Eastern Caribbean Central Bank has unveiled an ambitious strategy aimed at doubling the size of the Eastern Caribbean Currency Union (ECCU) economy over the next 10 years, arguing that economic transformation—not stability alone—is needed to secure long-term prosperity across its eight member states.

The initiative, known as “The Big Push: Collective Action for Shared Prosperity in the ECCU,” forms the centrepiece of the Bank’s new 2026-2031 Strategic Plan and is described as a call for governments, businesses, financial institutions and citizens to work together to accelerate economic growth, build wealth and strengthen resilience.

The strategy was outlined in the Eastern Caribbean Central Bank’s 2025-2026 Annual Report, which says the Bank is seeking to answer what Governor Timothy Antoine called “a simple but profound question”: What would it take to double the size of the ECCU economy over the next decade?

Rather than focusing solely on increasing gross domestic product, the ECCB says the strategy is intended to create more resilient, inclusive and competitive economies while improving the quality of life across the currency union.

“The Big Push is about far more than expanding GDP,” the report states. It describes the initiative as a framework for advancing financial stability, fiscal sustainability, economic diversification, innovation and shared prosperity, with the ultimate goal of transforming the region’s eight small island economies into societies where citizens can thrive.

The annual report says the strategy also challenges the people of the ECCU to double their personal wealth within 10 years , placing wealth creation alongside economic expansion as a central objective of the initiative.

The Bank argues that recent global events—including geopolitical tensions, trade uncertainty and increasing economic volatility—demonstrate that the region can no longer rely on traditional development models.

While tourism will remain a key economic pillar, the ECCB says member countries must diversify both within and beyond the sector by investing in opportunities in the digital, green, blue and orange economies.

According to the report, achieving the strategy will require “new mindsets, stronger skillsets, bold policy choices and coordinated investments,” together with unprecedented collaboration among governments, development partners, financial institutions, businesses and citizens.

To guide implementation, the ECCB Monetary Council has endorsed seven strategic theatres for regional action:

• food and nutrition security;
• energy security;
• connectivity and logistics;
• financial deepening and wealth creation;
• human capital development;
• digital transformation; and
• Tourism 2.0.

The Strategic Plan, formally launched on March 31, 2026, will serve as the Bank’s roadmap through 2031. According to the report, it was developed through extensive internal consultations, stakeholder engagement and Board-level input to create a shared vision for accelerating economic transformation across the currency union.

The plan also outlines a series of practical initiatives designed to support that transformation.

Among the priorities are expanding access to credit through a fully operational regional credit bureau, modernising payment systems, strengthening financial regulation, enhancing data systems, improving financial inclusion and advancing legislative reforms. The Bank says these initiatives are intended to improve access to finance, speed up loan processing, strengthen risk assessment and support inclusive economic growth.

The report notes that groundwork for several initiatives has already begun. During the past financial year, the ECCB launched the ECCU First Step Savings Account across all eight member countries, advanced the EveryData ECCU credit reporting platform and continued establishing the Office of Financial Conduct and the Eastern Caribbean Financial Standards Board.

Looking ahead to 2026-2027, the Bank says implementation of “The Big Push” will remain at the centre of its work programme as it seeks to preserve monetary and financial stability while fostering faster, broader-based economic growth throughout the Eastern Caribbean Currency Union.

This article was originally published by Antigua News Room. Read the original article here: ECCB Unveils Plan to Double ECCU Economy Within a Decade.