the milestone of 25 billion CFP in state aid has been crossed, the High Commission said in a statement released on Thursday (October 28th).

“Since March 2020, CFP 25.5 billion in aid (excluding loans guaranteed by the State and bank refinancing lines) has been paid by the State to companies affected by the health crisis in French Polynesia.

From the start of the Covid-19 crisis, companies in difficulty have benefited from massive and unprecedented support from the State, which has adapted its economic support system to the specificities and health context of French Polynesia.

In 18 months, the state’s exceptional economic support was deployed through several large-scale mechanisms: A. Direct aid paid to businesses ·

A major tool in the state’s support for companies’ cash flow, the solidarity fund represents 89% of the overall aid paid, or CFP 22.6 billion.

Nearly 82,000 requests have thus been satisfied since the start of the crisis. For the months of August and September, the solidarity fund was also reinforced at the fenua in order to adapt to the restrictive measures put in place on August 20 as part of the state of emergency. This exceptional measure was deployed in the overseas territories of the Republic undergoing a new wave of contamination even as the FSE device was on the verge of extinction in hexagonal France.

The business resumption aid, a component of the ESF, has also seen its conditions evolve. Aimed at companies that have taken over a business in 2020 whose activity has been affected by the Covid-19 epidemic, it is now accessible to companies that have created a business between October 1, 2019 and December 31 2020.

Complementary to the solidarity fund, aid to cover the fixed costs of businesses has been mobilized to the tune of CFP 2.8 billion.

Declined in three parts, this device has also evolved over time to take into account local particularities and best meet the needs of Polynesian companies; it has been extended for the period of July-August 2021 in order to respond to the difficulties caused by the resumption of the epidemic in French Polynesia. ·

– 50 million CFP were paid to two companies, in Raiatea and Nuku Hiva, for their investment projects. Other projects are under consideration;

– 19.3 million CFP were paid in the form of bonuses to 108 microenterprises located in priority areas of city policy in Tahiti and Moorea, to finance their cash flow requirements.

– 942 fenua companies have resorted to a loan guaranteed by the State with the sum of loans amounting to 54 billion CFP.

Two companies received additional aid in the form of a subsidized loan for a total amount of CFP 131 million.

· Bpifrance has granted more than 2.3 billion CFP in loans to businesses in the tourism sector.

The state continues to provide liquidity to Polynesian banks (49 billion CFP) through the IEOM so that they can support the economic fabric through guaranteed loans.

Through all the measures put in place since the start of the health crisis in March 2020, the state confirms its active and massive support for businesses in Polynesia. The passage of the cap of 25 billion CFP paid illustrates this very strong mobilization of the State and its consequent support alongside the Country, which is also particularly involved in supporting fenua companies.

All state aid mechanisms can be found on the website of the High Commission: http://www.polynesie-francaise.pref.gouv.fr/

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Ref: https://la1ere.francetvinfo.fr