France announced emergency financing and wage support for merchants hit by weekend unrest as Economy Minister Roland Lescure estimated the damage could run into hundreds of millions of euros.
Lescure told RTL on Oct. 21 that the assessment remained preliminary. He placed potential losses in the tens of millions of euros, with the total possibly reaching hundreds of millions, and called on insurers to meet their contractual obligations.
The economy ministry said thousands of merchants were affected by damage and looting during the Oct. 17-18 protests. It said the aid measures are intended to help businesses restock and retain workers while they recover.
The government announced interest-free loans of up to €50,000 through Bpifrance, repayable over three years. Businesses will be able to apply through an online platform. The measures also include deferred employer contributions and a support fund for businesses with fewer than 50 employees.
For affected businesses using short-time work arrangements, the state will cover an allowance equal to 60% of gross pay, or 100% for workers earning the minimum wage. That support is aimed at keeping employees attached to businesses whose operations have been disrupted.
France Assureurs, the insurance industry group, extended the period for reporting damage to 30 days and said insurers would speed up payments. Reimbursement depends on policy terms.
A French Senate report put insurers’ costs from the 2023 riots at €798 million. That figure measures insurance claims from a different episode and is not directly comparable with Lescure’s early estimate of damage from this weekend.
Prime Minister Sébastien Lecornu has promised a large police deployment after directing prefects to impose local curfews. Yellow Vest representative Benjamin Ball said organizers had submitted a declaration for a Paris march on Oct. 24.
