AFD // 2021 Universal Registration Document

CONSOLIDATED FINANCIAL STATEMENTS 6 Notes to the consolidated financial statements

Concentration of credit risk ❙ Financial assets at amortised cost Non-sovereign

At 31 ɸ December 2020

At 31 ɸ December 2021

Doubtful assets

Doubtful assets

Performing assets

Total

Performing assets

Total

stage ɸ 3

stage ɸ 3

stage ɸ 1 stage ɸ 2

stage ɸ 1 stage ɸ 2

In thousands of euros

Rating from AAA to BBB- (Investment) 5,711,085 352,245 from BB+ to CCC (Speculative) 3,194,704 5,517,350

- - -

6,063,330 5,584,154 391,091 8,712,054 5,056,664 5,142,758

-

5,975,245

- 10,199,421

Not applicable (1)

7,762

- -

7,762

7,000

- -

-

7,000

-

1,205,720 1,205,720

-

1,060,155 1,060,155

Doubtful (2)

TOTAL

8,913,551 5,869,595 1,205,720 15,988,866 10,647,817 5,533,849 1,060,155 17,241,821

(1) Unused assets relate to budgets granted pending allocation to a final beneficiary. (2) The CCC rating used at the end of 2019 as the first notch of doubtful debt was replaced in the course of 2020 by a new wording “D+”. The CCC rating now corresponds to the latest performing rating. This change was made to make the internal rating scale more consistent so that all doubtful third parties have a rating starting with a “D”. Sovereign

At 31 ɸ December 2020

At 31 ɸ December 2021

Performing assets

Performing assets

Doubtful assets

Doubtful assets

Total

Total

stage ɸ 3

stage ɸ 3

stage ɸ 1 stage ɸ 2

stage ɸ 1 stage ɸ 2

In thousands of euros

Rating from AAA to BBB- (RC1 to RC2) from BB+ to CCC (RC3, RC4, RC5)

6,904,562

20,930

-

6,925,493 7,660,087

0

-

7,660,087

10,047,145 2,812,105

- 12,859,251 11,750,001 2,806,810

- 14,556,811

Not applicable* Doubtful (RC6)

- -

-

-

-

- -

- -

-

-

348,513

2,757 351,270

570,432 570,432

TOTAL

16,951,708 3,181,549

2,757 20,136,013 19,410,088 2,806,810 570,432 22,787,330

* Unused assets relate to budgets granted pending allocation to a final beneficiary.

❙ Securities at fair value through recyclable equity or at amortised cost

Performing assets

Financial assets impaired from their acquisition or creation

Doubtful assets stage ɸ 3

stage ɸ 1

stage ɸ 2

Total

In thousands of euros

Rating

Carrying amount

from AAA to BBB- (Investment) from BB+ to CCC (Speculative) Doubtful TOTAL AT 31 ɸ DECEMBER 2021 from AAA to BBB- (Investment) from BB+ to CCC (Speculative) Doubtful TOTAL AT 31 ɸ DECEMBER 2020

1,798,062

1,798,062

238,019

32,981

271,000

2,036,081 2,162,017

32,981

2,069,062 2,162,017

72,534

72,534

2,162,017

72,534

2,234,551

168

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2021 UNIVERSAL REGISTRATION DOCUMENT