• logo linkedin
  • logo email
Makerno, citerne, Polynésie, Fonds vert
The 0% rate green loan to the public sector, known as PSP Vert, aims to combat climate change and is now available to all French Overseas Territories. It had previously been deployed in the Pacific with AFD's support. Below is a review of one year's worth of loans to protect the environment.

Ahead of the One Planet Summit, the Minister of Overseas Territories, Annick Girardin, announced the extension to all Overseas Territories of a green financial solution to combat climate change. After having been initially developed in the Pacific by AFD, this long-term, 0% rate loan known as PSP Vert has proven beneficial since 2017 in French Polynesia. 

In addition to providing €7m to French Polynesia's budget to fund environmental projects, the PSP Vert loan also enabled the funding of 2017 investment budgets of municipalities of varying sizes throughout the region, from the Pacific Windward Islands (Moorea, Pirae, Punaauia, Papara) to the Austral Islands (Raivavae), passing by the Tuamotu Islands (Manihi and Makemo).

A total of €12.4m in loans has been granted to fund projects for climate change adaptation, energy transition, marine protected areas, bioclimatic buildings, etc. 

A bioclimatic school in Moorea

The municipality of Moorea is now known for its project to make an existing school complex bioclimatic - a first in French Polynesia. Moorea has been heavily involved in sustainable development for several years (it was the first French Polynesian municipality to bury its electricity supply network, set up a maritime space management plan and calculate its carbon footprint) and its school project won the 2012 Faréco award, organised by the French Environment and Energy Management agency (ADEME), in the "public building" category. 

ADEME manages the project's technical and financial support. The school, located in the village of Papetoai, was specially designed to be more comfortable for students and teachers, particularly in hot weather and high humidity. The building's architecture lets in more natural light and allows more air to circulate. A brand new playground will also be built to resemble a shady green space with sports areas. The roof has been specially designed to enable better usage of natural airflows and daylight. In 2017, AFD was asked to contribute €1.1m to the funding of this project and granted the municipality a 0% PSP Vert loan.
 

Mitigation and adaptation in 2018

The PSP Vert loan, accessible in 2018 to all Overseas Territories, will provide funding at attractive rates for environmental projects aiming to mitigate and adapt to the effects of climate change, in order to achieve the Sustainable Development Goals (SDGs) and adhere to the Paris Agreement.
 

Makemo, solar energy, Polynesia

WATER AND SUNLIGHT PROVIDING ENERGY TO THE TUAMOTU ISLANDS

On the main atoll of Manihi in the Tuamotu Islands, the municipality is participating in France's energy efforts as outlined during the COP21 while being sure to seek out a cheaper source of electricity. Since 2016, the municipal council, funded by AFD, has chosen to invest in the construction of a hybrid power plant (photovoltaic-diesel). 

In this context, the PSP Vert loan was launched to fund the municipality's 2017 investment budget: renovating and extending the underground electricity network and street lighting. The power plant will help to significantly reduce the municipality's fuel consumption (by around 80%). An interim objective is to combine hydroelectric and solar power.

The following month, around 300km away, AFD funded the investment budget of Makemo, a municipality which installed 120 solar street lights, and cisterns to improve drinking water management. Drinking water supply has also been a major investment for municipalities in other archipelagos (Raivavae, Punaauia and Pirae), supported by AFD via the PSP Vert loan.