Saint Pierre and Miquelon

The aviation sector is key to ensuring the territorial continuity of this archipelago. AFD is involved in a project to replace the main aircraft of local airline company, Air Saint-Pierre. This aircraft, an ATR42-500, is used for return flights between Saint Pierre and Miquelon and Canada, which are essential for maintaining links with the outside world. Air Saint-Pierre has signed a public service concession (Délégation de Service Public – DSP) with the government for international flights and a public procurement agreement with the Territorial Collectivity of Saint-Pierre and Miquelon for inter-island flights. The total amount allocated to this project is €18.4 million, co-financed with the local bank.

In this regard, the partnership between the local AFD branch and Air Saint-Pierre has proved increasingly important, helping to support a sector that has been particularly badly hit by the global crisis.
 

In the health care sector, AFD is providing support to the François Dunan Hospital Center (CHFD), which received a €2.2 million loan in 2018 to implement its information system master plan, including a revamp of its IT infrastructure and the second phase roll-out of a remote medicine system.

AFD is also monitoring issues concerning the archipelago and possible developments relating to local health care structures. To this end, AFD is helping State and territorial authorities to develop a strategy, launched in 2018, to improve health care provision for the elderly and people with disabilities living on the archipelago. AFD is co-financing a three-part study for which two series of workshops and interviews with all stakeholders in the sector were organized in 2019. The last part of the study was postponed to autumn 2020 due to the global health crisis. The service will offer an innovative and inclusive platform for the elderly and disabled.
 

Identified as a key focus area for diversification in the Territorial Collectivity of Saint-Pierre and Miquelon strategic development plan, tourism is a major factor in development and employment for the archipelago. AFD is thus offering support with key construction projects aiming to convert and develop existing infrastructure, from hotels to buildings for cultural and specific activities. 

One of AFD’s most iconic projects is an innovative multi-functional tourist complex (hotel, wellness spa, and conference room): the “Terrasses du Port” in Saint Pierre. This private project, supported by the territorial collectivity (EDF grant) and the government, has received total funding of €5.4 million; with AFD contributing via a €2.2 million loan. The complex is due to open in December 2020 and will improve and diversify a rapidly-saturated hotel sector, particularly in peak season.

This major redevelopment project supported by AFD should help drive future development in the territory. The “Terrasses du Port” project is part of a wider portfolio of investments in port and airport infrastructure aiming to boost momentum in the tourism sector over the long term.
 

Housing is a key issue for the archipelago, where rental stock is limited and expensive. AFD is supporting the social initiative by the Coopérative Immobilière de Saint-Pierre-et-Miquelon (Saint Pierre and Miquelon Housing Cooperative – CISPM) which helps households with low or insufficient income to get on the property ladder. In 2020, AFD once again provided support to the CISPM, via a €3 million refinancing operation to cover its real estate loan program from 2021 to 2022. The CISPM loans have been allocated to the construction, acquisition and renovation of housing for customers who are unable to access financing from traditional banks.

The CISPM provides personalized support, drawing on expertise gained from over 70 years in operation. At the same time, the CISPM is continuing to develop its strategic model and to diversify into various housing-related fields, via its strategic orientation plan, approved in January 2019, which is being implemented with AFD’s support.