In general, both banks and MSMEs are unfamiliar with guarantee schemes and the credit enhancement that they can provide. ECPCGC became operational in 2020 and its staff is working with banks in the six nations that comprise the ECCU. The programme provides guarantees of up to 80% on loans made by private sector lenders to qualifying micro, small and medium enterprises (MSMEs). The Eastern Caribbean Partial Credit Guarantee Corporation (ECPCGC) was created to increase the amount of financing available to MSMEs in the Eastern Caribbean Currency Union (ECCU).
