Overseas territories call for financial assistance

POSTED: 10/1/12 12:31 PM

Marigot, St. Martin – There has been a call for a financial plan because of the high unemployment in the overseas territories at a meeting of the presidents of these territories which in the Azores. Collectivité President Alain Richardson said it is important for representatives of other territories to be aware of Saint Martin’s grave financial situation.

Most of the territories have received funding to develop their infrastructure but not St. Martin, where a large part of the infrastructure still needs to be developed.  Richardson said that there is a new financial package for the 2014 -2020 period for the development of the overseas territories.

“France, Spain and Portugal who have overseas territories are suffering a similar fate and they have a common position in defending their interest. Quite some lobbying will have to be done by our Minister of overseas departments and the other ministers of Spain and Portugal,” said Richardson.

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