Tahiti, June 6, 2021 – The state guaranteed loans (PGE) crisis mechanism has been particularly used in fenua. The outstanding amount of Polynesian EMPs represents 9.1% of French Polynesia’s GDP against 6.4% in France. The share of PGEs in outstanding business loans is the highest in the French overseas territories.
No less than 910 Polynesian companies have contracted a “loan guaranteed by the State” (PGE) set up in the first weeks of containment, in April 2020, and managed by Bpifrance to support the cash flow of the private companies most affected by the crisis. In a joint statement dated Wednesday and released Friday, the high commission, the local banking committee of the French Banking Federation and the IEOM published some figures on the granting of these loans, to emphasize the “Assessment of a year of support for the cash flow of Polynesian companies during the health crisis”.
We therefore learn that the 910 PGE granted to the fenua represent the trifle of 53.4 billion Fcfp of loans granted. The outstanding amount of Polynesian EMPs currently represents 9.1% of French Polynesia’s GDP (against 6.4% for the whole of France) and the share of EMPs in outstanding loans to Polynesian companies at the end of December 2020. was the highest in the French overseas territories (22%). In addition, 70% of the companies having contracted EMPs were very small companies (VSEs) with less than 10 employees and 25% were SMEs. Without too much surprise, the sectors linked to trade and tourism activities captured half of the EMPs and 71% of outstanding amounts.