France’s public financial institution, the Agence Française de Développement (AFD) Group, committed over 12 billion euros in 2020 to combat poverty and promote sustainable development in emerging countries. Despite the challenges brought about by the coronavirus pandemic, the agency financed 996 new projects, mainly in Africa. The agency’s crisis response package stood at 3 billion euros in 2020, according to the agency’s annual report.
Of €12 billion commitments in 2020, AFD channeled 2 billion euros to promote sustainable growth in Latin America, 4.4 billion euros in Africa, 2.1 billion euros in three Oceania states, and 2.9 billion euros in Asia and the Middle East. The agency allocated 1.2 billion euros to strengthen health systems by funding 63 projects in 33 countries of Africa and the Middle East. Another 1 billion euros went to help local authorities and companies located in France’s overseas departments and territories.
AFD Group CEO, Rémy Rioux, commenting on the agency’s performance, noted: “Faced with the worldwide social and environmental crisis, exacerbated by the continuing COVID-19 pandemic, AFD Group is taking action to meet short-term health and economic challenges in the countries where it works, especially in Africa. At the same time, we’re supporting far-reaching trajectories to meet the Sustainable Development Goals and the Paris Agreement on climate. Our work falls within the framework of the crucial programming bill on inclusive development and the fight against global inequality, which is sponsored by the French Minister for Europe and Foreign Affairs, Jean-Yves Le Drian.”
Furthermore, to meet the urgent needs of society fighting the challenges of the pandemic, the agency more than doubled its funding compared to 2019, almost reaching a record high of 9 billion euros.
Fig.1. AFD group commitments and disbursements, 2016 – 2020
In 2020, AFD actively financed projects to fight climate change and emerging environmental issues. Thus, the agency dedicated 5.4 billion euros to climate issues and 565 million euros to biodiversity.
According to the agency’s annual report, currently, all projects are analyzed from the perspective of gender equality, and 67% of projects target gender equality as the main objective.
About the agency
AFD Group is a state financial institution whose objective is to implement France’s development policy to fight poverty and exclusiveness. With a presence in Africa, Asia, the Middle East, Latin America, the Caribbean, and the Overseas Territories, the agency aims to improve the well-being of people through sustainable economic growth. The agency is focused on climate, biodiversity, peace, education, urban development, health, and governance issues. The AFD Group currently has over 4,000 projects in the countries in which it operates.
