Presentation of AFD’s Financial Results for 2011
Today AFD’s chief executive, Dov Zerah presented the agency’s 2011 financial results, showing €6.9 billion in funding approvals for the year. AFD expanded its aid actions to more developing and emerging countries, contributed to discussions about development aid, and consolidated its business model. AFD Spearheads French Development Aid Actions
The French government allocated €832 million in aid resources to AFD in 2011. AFD leveraged these funds and others to provide €6.9 billion in project and programme financing. The share of French foreign aid deployed by AFD has risen from 5% in 2003 to 31% in 2011.
Africa remains AFD’s priority region, receiving €2.7 billion of funding in 2011.
AFD directed two-thirds of the year’s total funding toward building infrastructure, developing urban areas, and promoting business, industry and trade. It also directed new funds toward education, healthcare and food security.
In 2011, AFD approved funding that will help:
- Improve drinking water supply for 1.53 million people.
- Ensure primary schooling for 4 million children and secondary schooling for 2 million.
- Provide professional training for 430,000 adults.
- Fight climate change by abating 3.8 million tons of CO2 equivalent emissions per year.
- Improve access to electricity for 6.15 million people.
Dov Zerah, AFD chief executive, commented, “Beyond being known for the funding it provides, AFD is renowned for its presence in the field, its ability to mobilize French expertise, its effective partnerships, and its contribution to international discussions about aid issues. We spearhead France’s cooperation actions.”
AFD’s Business Model Consolidation
AFD tailors its aid strategies to beneficiaries’ needs in each region:
- AFD concentrates 60% of France’s foreign-aid monies in sub-Saharan African countries, focusing on agriculture, food processing, infrastructure, education and healthcare.
- AFD has expanded operations in North African and Middle Eastern countries that border the Mediterranean to support recent changes, focusing on employment and professional training.
- AFD offers lightly-subsidized loans to emerging countries, encouraging them to pursue more inclusive and environmentally-friendly development.
Dov Zerah noted, “Consolidating our business model means stabilizing the agency’s level of financing; it should reach €8 billion in 2013. Our challenge is to continue building our human and financial capital, and to reduce operational and financial risks.”