AFD - 2019 Universal registration document

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PRESENTATION OF AFD

AFD Group

1.5.3 Presentation of subsidiaries 1.5.3.1 Proparco

Head office: 5, rue Roland-Barthes – 75012 Paris Equity: €1,102,208 AFD’s stake: 60% (of which 1.32% via Socredo)

Other shareholders: nine credit institutions (40.00%) including Banque de Nouvelle-Calédonie (7.51%) and Banque de Polynésie (7.51%) Balance sheet total: €50.8M Total net equity: €12.7M (excluding FRBG) Gross outstandings: NS Net banking income: €3.0M SODERAG (SOCIÉTÉ DE DÉVELOPPEMENT RÉGIONAL ANTILLES-GUYANE) Purpose: To grant loans and acquire equity investments in order to promote development in the Antilles – French Guiana region Legal form: Public limited company in liquidation ( société anonyme en liquidation ) (SDR) Head office: Pointe-à-Pitre (Guadeloupe) Equity: €5,576,859 AFD’s stake: 100.00% Other shareholders: None Balance sheet total: €5.3M Total net equity: -€116.2M (excluding FRBG) Gross outstandings: NS Net banking income: -€0.00M FISEA (INVESTMENT AND SUPPORT FUND FOR BUSINESSES IN AFRICA) Purpose: To promote the growth of African SMEs Legal form: Simplified joint stock company ( société anonyme par actions simplifiée ) Head office: 5, rue Roland-Barthes – 75012 Paris Equity: €227,000,000 AFD’s stake: 100.00% (except for one share) Other shareholders: Proparco holds 1 Fisea share Balance sheet total: €137.8M Total net equity: €137.5M Gross outstandings: NS Equity investments: €115.9M (amount net of impairments) Net income: -€9.5M TR PROPASIA (PARTENARIAT STRATÉGIQUE POUR UNE PLATEFORME D’INVESTISSEMENT ASIATIQUE) Purpose: To create a regional investment platform Legal form: Public limited company ( société anonyme ) Head office: Hong Kong Equity: €7,075,013 AFD’s stake: 74.18% Other shareholders: Propasia is a wholly-owned subsidiary of Proparco Balance sheet total: €7.5M

Proparco is a financial institution specialised in development, with share capital totalling €693M. AFD holds a 74% stake, while the remaining 26% is held by private shareholders (including 12% by French financial institutions, 11% by international financial institutions, 2% by investors and 1% by ethical funds and foundations). Proparco’s purpose is to work with the private sector in order to promote inclusive sustainable development models with a low carbon footprint in developing and emerging countries. Proparco plays a role in achieving sustainable development goals (SDGs). Its sector-focused strategy, adapted to match each country’s level of development, is focused on business, industry and trade, banking intermediation and financial systems, infrastructure, energy, health, education and private equity. Since 2009, Proparco’s operating scope has extended to all developing countries as defined by the Organisation for Economic Co- operation and Development’s (OECD’s) Development Assistance Committee (DAC) and covers a geographic area extending from the major emerging countries to the poorest countries, especially in Africa; it must meet high corporate social responsibility (CSR) requirements and impacts. Proparco offers a complete range of financial instruments to meet the specific needs of private investors in developing countries: loans, quasi-equity, equity and guarantees. In 2019, Proparco took over AFD’s Private Sector activity in order to facilitate the clarity of the Group’s actions to promote private sector financing and guarantee coherence for Group counterparties. 1.5.3.2 Activities of TR Propasia, a Proparco subsidiary TR Propasia is a public limited company in liquidation, wholly owned by Proparco, in charge of investing in Asia through funds (up to 70%) and directly (30%), in countries and in sectors where Proparco is active, as a co-investor with TR Capital, with both funds managed by the same asset management firm. Its portfolio was sold to Proparco in 2019. 1.5.3.3 Fisea Fisea (Investment and Support Fund for Businesses in Africa) was created in April Ǿ 2009. It mainly operates in Sub-Saharan Africa. It is managed by Proparco on behalf of AFD, within the framework of a regulated agreement. On 16 Ǿ December Ǿ 2019, Fisea’s share capital was increased to €227,000,000 following a share capital increase of €17,000,000 fully subscribed by AFD. AFD holds 226,999 Ǿ shares and Proparco one share. Fisea’s net approvals (excluding Technical assistance) were €6.4M in 2019 and concern 2 direct investments in the microfinance sector.

Total net equity: €7.5M Gross outstandings: NS Equity investments: NS Net income: -€0.2M

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UNIVERSAL REGISTRATION DOCUMENT 2019

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