Martinique

Located in the middle of the Antilles archipelago, Martinique is rich in exceptional national heritage and boasts a strong economy. However, it needs to reduce ongoing social and territorial inequalities and find new sources of growth. As a longstanding partner, AFD supports the island's transition towards a more inclusive and sustainable development model.
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bus, rue, ville, Martinique
AFD AND MARTINIQUE: REDUCING INEQUALITY AND CREATING A SUSTAINABLE GROWTH MODEL
Fort-de-France, Martinique, ville

Supporting the work of local authorities

aéroport Aimé Césaire, Martinique

Supporting the work of local authorities

Martinique’s local authorities are in a fragile financial position, exacerbated by profound changes in the island’s institutions. Local public investment has decreased. AFD focuses its support on funding programs to modernize infrastructure and enhance the competitiveness of the local economy.

For this purpose, AFD offers a complete range of financial products: long-term loans, pre-funding for European and state grants, subsidized loans to strengthen investment in strategic areas of intervention, and general contracting support to fund the island’s structural investments.

We also support local authorities through consulting and support services.

Establishing a green economy

logements, habitat, Martinique

Establishing a green economy

AFD works alongside local banks to support the private sector to help foster growth and job creation in Martinique.

For several years now, AFD has been promoting the establishment of a green economy and has become a leading donor in renewable energies. It contributes funding for various types of essential infrastructure as part of the island’s sustainable development.

To promote social cohesion, we intend to support home ownership (social or intermediary housing) among the most vulnerable and fragile populations.

In addition to direct funding and assistance in company growth strategies, we also provide (loan) guarantees, particularly in the agricultural sector, to revitalize the sector.

Improving healthcare provision

Le François hospital, Martinique

Improving healthcare provision

Martinique faces a major demographic challenge because of its aging population and the need for modern accommodation and support services for the elderly. AFD is committed to working with local stakeholders to improve these services. Since 2014, four housing centers for the elderly (EHPAD) have received funding to make their models more economically sustainable and ensure a denser network of facilities in the region.

AFD has also supported the Agence Régionale de Santé in its aim to improve and streamline healthcare provision in a deteriorated health sector that relies on state aid. For several years, most of the island’s hospitals have not been able to make the investments needed to ensure quality services. AFD has therefore supported the Martinique university hospital (CHUM) – the linchpin of the regional health plan – as well as three district hospitals. AFD also contributes to improving care for people with disabilities. 

Promoting regional integration

Fort-de-France, Martinique, ville

PROMOTING REGIONAL INTEGRATION

Martinique is not yet sufficiently integrated into its regional economic space. The island is actively seeking to change this, and is taking part in regional Caribbean forums (e.g. the Organization of Eastern Caribbean States – OECS). 

AFD encourages this dynamic with a three-fold objective: 

  • to better integrate French Overseas Territories in regional trade networks; 
  • to ensure neighboring countries benefit from the skills and resources available in French overseas territories;
  • to work on issues common to the sub-region.

AFD therefore introduced the French Local Authorities Financing Facility (FICOL) to help Martinique to become more integrated in the Caribbean region through funding, links and cooperation among local authorities. 

We are also funding a geothermal project in Dominica. The goal of the project is to export electricity to Guadeloupe and Martinique and thus reduce the region’s energy dependence.

242
projects funded in 10 years
1.1
billion euros invested between 2010 and 2018
80%
of Martinique’s municipalities benefit from AFD support

Martinique, which is located in the middle of the Lesser Antilles archipelago, nearly 7,000 km from France, is directly exposed to the risk of earthquakes and is in the direct path of cyclones. With over 400,000 inhabitants and an area of 1,128 km2, it stands out from the rest of the French overseas territories due to its high population density.

The island, which became an official territorial collectivity on 1 January 2016, is rich with exceptional natural heritage and highly diverse ecosystems. Both tourism and the economy rely on these assets – during the 2016/2017 season, the island welcomed 800,000 visitors, thus confirming the attractiveness of Martinique. This natural capital needs to be preserved, especially against the backdrop of climate change.

However, despite a surge in activity in 2015, Martinique is still affected by economic and social inequality. With high unemployment (18%), the cost of living has not dropped and job insecurity is still an issue. Its population is also ageing: even though it was one of France's youngest populations less than ten years ago, it is expected to become one of its oldest by 2040.

As a long-standing partner of Martinique for over 70 years, AFD supports its ongoing social and territorial developments and contributes to the creation of a new, more inclusive economic model. We do this by working towards boosting Martinique's influence and integration into the Caribbean region. To do this, we use various tools dedicated to both the public (e.g. loans, support and advice) and private sectors (e.g. loans to companies, guarantee funds, the Bpifrance offer).

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