OECS Launches Monitoring Framework for its Regional Development Strategy

OECS Launches Monitoring Framework for its Regional Development Strategy

In a move to advance the development of the region, the Organisation of Eastern Caribbean States (OECS) introduced the OECS Development Scorecard, a tool to help its Member States track its development progress in real-time. The OECS Development Strategy (ODS) is a product of the OECS Commission and the Eastern Caribbean Central Bank (ECCB).

Originally launched in 2019, the ODS addresses the key development needs of the Eastern Caribbean States with a focus on three pillars: Generating Economic Growth; Promoting Human and Social Wellbeing; and Sustainable Use of Natural Endowments.

Following the impact of the Covid-19 pandemic and in recognition of the nonexistence of a regional monitoring tool, the OECS Commission collaborated with the Organisation for Economic Cooperation and Development (OECD) Development Centre to review the ODS and develop a monitoring scorecard.

The Scorecard provides 40 indicators across the three pillars of the ODS and articulates the national ambitions for each indicator. The Scorecard was launched on Tuesday, June 21, 2022.

The ODS Scorecard will be updated yearly, and the Economic Affairs Council will receive a yearly report on the implementation of key initiatives for advancing the national and regional strategy.

The OECS Development Strategy Implementation Project is supported under the OECS – EU Regional Integration through Growth, Harmonisation and Technology (RIGHT) Programme.

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