28 Nov 2013

French Polynesian loan agreement signature deferred

2:58 pm on 28 November 2013

The French overseas territories minister, Victorin Lurel, has assured French Polynesia that Paris will stand by the territory's people but says the deal for a loan advance won't be signed during his three-day stay.

A month ago, Paris said it would release a 57 million US dollar loan before the end of the year under a deal which would force French Polynesia to repay it within two years.

Its signing was to go ahead during Mr Lurel's current visit to Tahiti, but he now says the agreement will be finalised in Paris.

The French Polynesian government has been cash-strapped and needs funds to pay suppliers and public servants.

Mr Lurel was also met by a small group of protestors from the pro-independence Tavini Huiraatira party, saying the territory is not for sale.