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project info
Start date: 30 November 2020
End date: 31 December 2023
funding
Fund: European Regional Development Fund (ERDF)
Total budget: 10 600 000,00 €
EU contribution: 4 000 000,00 € (37,74%)
programme
Programming period: 2014-2021
Managing authority: Collectivité territoriale de Martinique

Martinique BPI Bond loan to support the BFR and the investment needs to restart local VSEs affected by the COVID 19 crisis – Phase 1

In the aftermath of the announcement of the containment measures (14/03/20) by the government, the Collectivité worked on the implementation of the “Martinical Readiness” scheme adapted by the operator Bpifrance to take into account the context of the crisis and the easing taken by the Commission under the COVID 19 Temporary Framework. A loan facility configured as of July but launched in September 2020 with the economic players of the territory, the Loan Rebond, is a financial instrument of participatory lending at zero rates with a maturity of 7 years including 2 years of systematic delay for loan amounts between EUR 10000 and EUR 300000. As part of the continuation or completion of the first announcements of the State Guaranteed Loan (PGE) under the National Solidarity Fund, the scheme aims to support the Need for Bearing Fund (BFR) and the investments to restart companies during this first period of lockdown marked by the fall in the turnover of companies, the deterioration of their cash flow, the emergence of the first signs of difficulties due to the tightening of the crisis. Martinique does not escape the consequences of this health crisis erected as a major economic crisis. By deliberation No 20-78-1 of 09/04/20, an allocation of EUR 2 million is allocated by the Community, generating through a multiplier of 2.65, a loan potential of EUR 5.3 million.

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