AFD - 2019 Universal registration document

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PRESENTATION OF AFD

Activities of the Agence Française de Développement Group in 2019

1.6.4 AFD’s activities in foreign countries TOTAL VOLUME OF APPROVALS, DISBURSEMENTS, UNDISBURSED BALANCE AND OUTSTANDINGS (1) The development of AFD’s activity over the past two years was divided between the four types of financing as follows:

Variance 2019/2018 €M

2019

2018

%

In millions of euros

Loans * Approvals

8,256 3,825

7,308 3,916

948

13.0%

Disbursements

-91

-2.3%

Undisbursed balance at 31 Ǿ December

21,806 26,100

18,548 24,473

3,258 1,626

18%

Outstandings at 31 Ǿ December

7%

Subventions Approvals Disbursements

1,577

627 397

950 148

152%

546

37% 76% 18%

Undisbursed balance at 31 Ǿ December

2,360

1,341

1,019

Outstandings at 31 Ǿ December

22

18

3

Guarantees Approvals Outstandings

56

222 182

-165

-75%

177

-6

-3%

Equity investments Approvals

0 0

0 0

0 0

0%

Disbursements

Total Approvals

9,889 4,371

8,156 4,313

1,733

21%

Disbursements

57

1%

Undisbursed balance at 31 Ǿ December

24,166 26,298

19,889 24,674

4,277 1,624

22%

Outstandings at 31 Ǿ December

7%

(*) Information about loans does not include the status of AFD loans to Proparco.

political and macroeconomic uncertainties in Argentina, Turkey, Cuba, Lebanon and the Philippines. Thus €250M of public policy loans could not be signed and disbursed in 2019. This decrease is partly offset by an increase in disbursements of grants, which posted growth of 37%, reflecting the increase in approvals. P For a breakdown of approvals and disbursements by type of financing, see Appendix Ǿ 6.

P Total approvals in foreign countries reached €9.89bn in 2019, compared with €8.16bn in 2018, i.e. a significant rise of 21%. Growth concerned the loan and grant activities, except for guarantees including ARIZ, which are operated by Proparco. P The undisbursed balance and outstandings also grew by 22% and 7% respectively. P Total disbursements were stable between 2018 and 2019. This stabilisation is due to the decline in disbursements for the loan activity (-2.3% between 2018 and 2019) related to

(1) With sub-participations. Excluding grants on behalf of third parties and transactions on behalf of the State.

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UNIVERSAL REGISTRATION DOCUMENT 2019

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