A territorial recovery agreement relying on the public sector to sustain the economy: signature between the French State and French Polynesia of the 3rd part of the Development and Transformation Contract
15 April 2021
The High Commissioner of the Republic, Dominique Sorain, and the President of French Polynesia, Edouard Fritch, signed, last Wednesday, the territorial recovery agreement allowing to apply some actions of the national plan “France Relance” in French Polynesia.
This plan is intended to respond to the consequences of the health crisis on the economic and social sectors of the Republic’s territories.
This territorial recovery agreement is the 3rd part of the 2021-2023 Development and Transformation Contract, signed by the Prime Minister, the Minister for Overseas France and the President of French Polynesia in Paris on March 30.
In French Polynesia, this agreement will allow:
– the deployment of national calls for projects;
– the territorial application of numerous support measures for the sectors affected;
– the financing of projects by the State or its operators (BPI France, ADEME, AFB, etc.) for the benefit of French Polynesia, municipalities, State administrations, businesses, associations and individuals in sectors as diverse as student social housing, energy renovation of public buildings, promotion of biodiversity, culture with the “live show plan”, the protection of the population with, in particular, the agreement to provide community cyclone-proof buildings, sustainable tourism, circular economy and industrial investments.
Support for industrial investments allows local companies to benefit from significant subsidies to develop. A first agri-food project in the Marquesas Islands has already received a grant of XPF 78 million. 4 other projects are currently being examined.
This territorial recovery agreement also covers the rehabilitation of the Outumaoro student accommodation center, for an amount of XPF 675 million, with a state grant of XPF 226 million.
In total, without prejudging the success of the territory’s companies in the national calls for projects, this agreement provides for a total of XPF 1 billion of investment and transfer by the State over 2021 and 2022.
Source : Press release from the Presidency of French Polynesia – April 14, 2021
