Edouard Philippe announced he will withdraw France's candidacy for World Expo 2025.
"I have decided not to pursue France's candidacy to World Expo 2025," announced Edouard Philippe regarding the abandonment of the project for financial reasons.
The Prime Minister pointed out the "structural weaknesses" of the project's economic model. France's candidacy was presented end September to the Bureau International des Expositions (BIE) by the association Expo France 2025. The latter received support form both the national and Local governments of the government as well as from the city of Paris, the Région Ile-de-France and the Grand Paris Metropolis.
Within a context of "fiscal recovery", three primary weaknesses have been pinpointed: the need for significant public subsidies, "the vicissitudes" of the project that "make it impossible to absorb certain hypotheses of unfavorable attendance" and, finally, a lack of private investors wishing to support the project.
After this decision, three candidates are still in the running to organize the World Expo 2025: Russia (Ekaterinburg), Japan (Osaka) and Azerbaïdjan (Bakou). The final decision will be made by the BIE in November 2018.
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