Vila Times

Tahiti to consult with France about $US5 billion loan from UAE

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The French government says different ministries may have to be consulted before French Polynesia can take out a loan of $US5 billion from the United Arab Emirates.

The issue has been raised in the French National Assembly by Moetai Brotherson of French Polynesia who asked about the process for getting a loan from outside the European Union, RNZI reports.

A former French Polynesian president Gaston Flosse touted the option of getting the loan from Abu Dhabi in order to build the Mahana Beach resort complex.

Flosse, who is banned from office but hopes to be able to stand again in April, said the money would be available if he won the election.

Mr Brotherson said in 2012, the French Polynesian government was not allowed to seek a $42 million loan from China without the consent of Paris. In the National Assembly, a senior finance department official said the government was open for investments, but given the size of the loan, it would have to be discussed with economics, foreign and overseas ministries.

Mr Brotherson said he would seek clarification in writing from the foreign minister Jean-Yves Le Drian.