To support overseas municipalities facing financial difficulties, the government has established the Overseas Recovery Contracts (COROM) program.
It was in this capacity that Jean-Christophe Bouvier, Prefect of Martinique; Rodolph Sauvonnet, Regional Director of Public Finance; and Alain Germain Duton, Mayor of Le Prêcheur, signed Martinique’s sixth COROM on Friday, October 25.
On this occasion, the prefect reiterated the government’s commitment to standing alongside the overseas local authorities to support their recovery efforts, with the aim of restoring budgetary and structural stability and steering their finances toward a more sound trajectory.
A Challenge in Financial Recovery
For the municipality of Le Prêcheur, this contract represents an opportunity for financial recovery while addressing land-use planning challenges related to major natural hazards and coastal erosion.
Through this agreement, the government commits to providing the municipality with technical support from the French Development Agency and financial support from the Ministry of Overseas Territories over a three-year period; the allocation of this financial support is contingent on the results achieved by the municipality in fulfilling the terms of the contract.
Source: Prefecture
