ADBEC was formed in 2007 as an association with its own by-laws and its members include Anguilla Development Board, Antigua & Barbuda Development Bank, Development Bank of St. Kitts & Nevis, Dominica Agriculture Industrial and Development Bank, Grenada Development Bank, St. Lucia Development Bank and associate member, Development Bank of Jamaica.
The Association was incorporated in 2013 to facilitate its effectiveness to carry out its primary mandate - to act as a vehicle for channeling of funds to the private sector in support of policy based lending initiatives. It will function primarily as a development funding institution and not that of a "Bank" as all lending activities will be undertaken by its member development financial institutions.
Its other mandates include:- the standardization of training and operations where desirable; establish a common risk management policies; establish guidelines and the desired levels for Key Performance Indicators; establish key due diligence procedures; standardize underwriting practices; provide consulting and technical services to promote sustainable entrepreneurial development; promote and support the expansion of trade within the ECCU regionally and extra regionally; as well as provide the required financing and to facilitate deal flows and project lifetime supervision.
It is envisaged that ADBEC, with the support of the Eastern Caribbean Central Bank and the Organization of Eastern Caribbean States, will have the combined capability to make a meaningful and positive impact on our economies by creating sustainable growth for the enduring benefit of the citizens of the region.