La Réunion proposes support measures for companies affected by the cyclone

On 5 March, during the standing committee, the La Réunion Region announced the implementation of a series of measures to support reconstruction after the passage of cyclone Garance.

The community wrote to the Prime Minister and the President of the European Commission to activate the Restore mechanism (Rapid Emergency Support for Territorial European Regions). This allows the redeployment of 10% of the European ERDF and ESF funds for which the Region is responsible. This represents approximately 100 million EUR.

The Restore mechanism aims to provide rapid emergency aid to European Territories affected by natural disasters, by facilitating access to financing through simplified procedures. This support helps finance the reconstruction of infrastructure, the revival of economic activities and the prevention of future risks. According to Younous Omarjee, Deputy Speaker of Parliament, this mechanism offers co-financing rates of up to 95% and pre-financing of 25% for reconstruction operations.

Along the same lines, the Region is proposing to the State and the Department to also activate the Restore mechanism. In particular, to support the agricultural sector, which has been affected by the bad weather. Huguette Bello, President of the Region, stressed the importance of concrete State support and requested the activation of the European Union Solidarity Fund for the rapid restoration of infrastructure and assistance to families.

The material damage caused by the cyclone is estimated at 72.5 million EUR for road infrastructure, 2.4 million EUR for high schools and 1.9 million EUR for other buildings. Funds will also be mobilized for the restoration of damaged roads and public facilities.