AFD // 2021 Universal Registration Document

CONSOLIDATED FINANCIAL STATEMENTS Notes to the consolidated financial statements

❙ Financing commitments 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) from BB+ to CCC (Speculative) Not applicable (1)

1,103,294

730

-

1,104,024 1,213,010

-

-

1,213,010

1,610,642 698,377

- -

2,309,019 1,959,063 463,041

- -

2,422,104

181,325

- -

181,325 156,434

- -

156,434 58,575

Doubtful (2)

-

131,493 131,493

-

58,575

TOTAL

2,895,261 699,108 131,493 3,725,861 3,328,506 463,041 58,575 3,850,123

(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

Doubtful assets

Performing assets

Doubtful assets

Performing 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, RC2) 1,658,618

-

-

1,658,618 2,109,968

-

-

2,109,968

from BB+ to CCC (RC3, RC4, RC5)

8,345,174 1,258,014

- - -

9,603,188 8,448,829 1,950,725

- 10,399,554

6

Not applicable* Doubtful (RC6)

- -

-

-

- -

- -

-

-

524,418

524,418

648,251 648,251

TOTAL

10,003,791 1,782,432

- 11,786,223 10,558,796 1,950,725 648,251 13,157,772

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

❙ Guarantee commitments

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) from BB+ to CCC (Speculative)

26,151

545

-

26,696

20,367

267

-

20,634

83,874 446,345

- -

530,219 248,556 603,653

- -

852,209

Not applicable

- -

- -

-

- -

-

-

Doubtful

49,041

49,041

309,372

69,702

70,011

TOTAL

110,024 446,891 49,041 605,956 268,923 604,229 69,702 942,854

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2021 UNIVERSAL REGISTRATION DOCUMENT