Martinique

Martinique, which is located in the middle of the Antilles archipelago, is rich with exceptional national heritage and a strong economy. That said, the country needs to find new drivers of growth and reduce ongoing social and territorial inequalities. As a longstanding partner, AFD supports the island's determination to create 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

Boosting economic growth

aéroport Aimé Césaire, Martinique

BOOSTING ECONOMIC GROWTH

With an unemployment rate of 18% as of 2016, Martinique needs to overcome this issue and revitalise its economic activity by finding new drivers of growth. 

To support business owners and make their companies more competitive, AFD:

  • grants access to microenterprises and SMEs to bank credit and contribute to the strengthening of their financial structure; 
  • funds their short-term needs and/or investments; 
  • provides funding for public orders.

In order to respond to increasing air traffic and contribute to the island's economic development, AFD has also funded the modernisation and expansion of the Aimé Césaire Airport. In 2020, it will be able to accommodate 2 million passengers per year. 

Strengthening social cohesion

logements, habitat, Martinique

STRENGTHENING SOCIAL COHESION

The island's economic dynamic during the 1990s did not enable it to bring certain social indicators out of the red. Unemployment remains high, as does social and territorial inequality. The crisis of 2008 only amplified the country's weaknesses.

In order to reduce this instability, AFD supports public policy in the following sectors: healthcare, medico-social issues, sustainable development, the silver economy (economic activities relating to the elderly), housing and transport.

In terms of healthcare, our aim is to modernise hospital treatment. This is why we have funded the construction of a new technical platform at the Martinique university hospital. 

With an ageing population, Martinique needs to remedy the deficit in accommodation for the elderly. AFD thus funded the reconstruction of the housing centre for the elderly (EHPAD) of the François hospital centre and the conversion of a Creole villa into a centre for Alzheimers patients. 

Social exclusion is the main vector of social inequality in Martinique. In addition, AFD is committed to the education sector. We have funded several vocational training and educational projects, such as the construction of the "Moulin à vent" ("Windmill") primary school in Robert. 

Enhancing the value of environmental capital

montagne Pelée, Martinique, nature

ENHANCING THE VALUE OF ENVIRONMENTAL CAPITAL

Martinique is aiming to become a "sustainable island". In order to do this, it intends to reduce its energy consumption and develop its energy mix: currently, only 6% of the country's electricity comes from renewable sources. 
AFD supports the island's energy transition. Our goals:

  • supporting renewable energy projects and energy efficiency programmes;
  • promoting better integration of adaptation to climate change strategies in public policy;
  • reinforcing natural risk prevention;
  • improving sustainable natural resource management;
  • better protection and promotion of biodiversity. 

We have funded several renewable energy projects, such as the photovoltaic power plant in Lorrain.

On any island, waste management is a key factor in preserving the environment and public health, as well as for the energy sector. AFD is funding the modernisation of equipment as well as treatment processes and waste management. 

Finally, Martinique is rich with an exceptional natural heritage. Although this heritage is a real environmental and economic asset (800,000 tourists visited Martinique in 2016), it also represents a challenge. In order to preserve and take full advantage of this capital, AFD supports the Martinique Natural Regional Park (PNRM). Our aim is to restore various sites and work towards the territory's harmonious development. 

Promoting regional integration

Fort-de-France, Martinique, ville

PROMOTING REGIONAL INTEGRATION

Martinique is not yet sufficiently integrated into its regional economic space. But the island wishes to change this. Its businesses are becoming more international and it is taking part in regional Caribbean forums (e.g. the Organisation of Eastern Caribbean States – OECS). 

AFD encourages this dynamic with a three-fold objective: 

  • to better settle French Overseas Territories into their immediate surroundings; 
  • to help neighbouring countries to make the most of the skills and resources available in these territories;
  • to work on issues common to the whole sub-region.

For example, we are currently funding a geothermal project on the neighbouring island of Dominica. The aim is to export electricity to Guadeloupe and Martinique. This will, in turn, reduce the region's energy dependence. 

2
million passengers will pass through the Fort de France airport in 2020
350
million Euros committed in 2015
400
businesses in Martinique are supported financially

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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