French Polynesia stresses on the need to reopen tourism, to secure $525 million loan from France
French Polynesia’s president Edouard Fritch plans to go to Paris next month in an effort to secure loans amounting to $525 million to deal with the Covid-19 crisis.
In an address to the assembly, Fritch said $375 million would be sought for the running of the territory whose tourist industry was crippled by the virus outbreak. He said $US150 million was needed for the social security agency CPS.
Fritch stressed the need to open up for tourism, citing the plight of Bora Bora whose 10,000 inhabitants have been hardest hit.
He said its employees in the tourism sector missed out on almost $US6 million worth of wages a month. In total, more than 16,000 tourism employees will get government assistance until December.
Fritch said growth of 2.5% last year allowed the government to release $US50 million in support payments when the crisis struck.