Discovering Europe
Almost €2 bn from the EU to boost Réunion’s economy
European Union (EU) resources have made a major contribution to the economic upturn of Réunion. The EU’s European Regional Development Fund (ERDF) will alone provide around €1 bn between 2007-2013, in addition to other forms of support. For the period 2000–2007, the total amount of European structural funds allocated to the island under the ERDF, the European Agriculture Guidance and Guarantee Fund (EAGGF), the Financial Instrument for Fisheries Guidance (FIFG) and the European Social Fund (ESF) together came to €1.7 bn. The EU is contributing a 62 per cent slice with France including Réunion providing the remaining 38 per cent.
The programmes to be carried out with the European funds were drawn up with the region and France together within a single strategy document. They include plans to improve competitiveness of persons, the improvement of economic competitiveness with particular emphasis on the development of an Indian Ocean economic pole geared to research, CITs (information and technology projects), tourism, financial engineering and assistance for companies. The creation of infrastructure for hydraulic technology and fishing, the improvement of the territory’s competitiveness through transport networks in particular, housing construction and compensation for the disadvantages of being an outermost region and a remote, small-sized island contending with climate difficulties, will all attract funding.
