AFD - 2019 Universal registration document

A word from the CEO

2 3 5 6 8

6.3 Auditors’ report on the consolidated financial statements 6.4 Statutory auditors’ special report on regulated agreements 6.5 Fees paid to the statutory auditors and members of their network by the Group

162

Our key fi gures

Our strategy 2018–2022 4 Main operating regions Methodology and glossary

167

172

1

7

Presentation of AFD 1.1 General information

9

AFD’s annual fi nancial statements

173

10 11 12 15 17

Balance sheet at 31 December 2019 Balance sheet at 31 December 2019

174 175 176

1.2 AFDGroup’s 2018-2022 strategy

1.3 AFD operations

2019 income statement

1.4 Financing activities on its own behalf

7.1 177 7.2 Accounting principles and assessment methods 178 7.3 Notes to the financial statements at 31 December 2019 186 7.4 AFD’s financial results over the last five financial years 197 7.5 Statutory auditors’ report on the financial statements 198 Highlights of the financial year

1.5 AFDGroup

1.6 Activities of the Agence Française de Développement Group in 2019

20

2

Statement of Non-Financial Performance 35 2.1 The business model 37 2.2 Identification of themain non-financial issues and risks 37 2.3 Managing the risks and impacts of our action 40 2.4 The Group’s contribution to sustainable development 44 2.5 Transparency and dialogue with stakeholders 50 2.6 Coordinationwith development actors: priority to partnership 51 2.7 Fair practices 52 2.8 Ameaningful work environment 55 2.9 Report fromone of the statutory auditors,

8

Person responsible for the b Registration Document and the b audit of the fi nancial statements

203

8.1 Name and position

204 204 204 204

8.2 Certification of the person responsible 8.3 Name, Address and Qualification of the Financial Statements’ statutory auditors

8.4 Information Policy

9

as a designated independent third party, on the voluntary consolidated statement of non-financial performance included in the management report

Additional information

205

9.1 Cross-reference table of themanagement report

59

206 207

3 4

9.2 Incorporated by reference

Corporate governance

63

9.3 Cross-reference table of the universal registration document 9.4 Cross-reference table of the CRR articles and the Pillar III report tables 9.5 Appendix 1 – AFD’s operating region 9.6 Appendix 2 – AFD simplified balance sheet based on French GAAP 9.7 Appendix 3 – AFD simplified income statement based on French GAAP 9.8 Appendix 4 – Key ratios and indicators 9.9 Appendix 5 – Results of operating activities for the last 5 reporting years (parent company basis) 9.11 Appendix 7 – Summary table of AFD’s and Proparco’s loans in foreign countries 9.12 Appendix 8 – Table of Proparco’s approvals 9.13 Appendix 9 – Note on the Statement of Non- Financial Performancemethodology 9.14 Appendix 10 – Statement of Non-Financial Performance appendices 9.10 Appendix 6 – AFD approvals

207

3.1 Report on corporate governance 3.2 Compensation policy and practices

64 73

211 214

Risk management

77

217

4.1 Risk factors

78 84 94

4.2 Basel III Pillar 3 4.3 Riskmanagement

218 219

5

Financial information

101

219 220 221 224

5.1 Recent changes and future prospects

102 103

5.2 Post-closing events

5.3 Economic presentation of the consolidated financial statements

103

6

227

Consolidated fi nancial statements prepared in accordance with IFRS accounting standards adopted by the b European Union

230

109

6.1 Overview 110 6.2 Notes to the consolidated financial statements 116