AFD // 2021 Universal Registration Document

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PRESENTATION OF AFD

Activities of the Agence Française de Développement Group in 2021

1.6.4 AFD’s activities in foreign countries ❙ Total volume of authorisations, disbursements, undisbursed balances and outstanding loans (1) The change in AFD’s activities over the last two years can be broken down as follows for the four types of financing:

Variance 2021/2020 (in millions of euros)

2021

2020

(in %)

In millions of euros

Loans (1) Approvals

7,298 5,036

7,574 6,016

-276 -980

-3.6%

Disbursements

-16.3%

Undisbursed balance at 31/12

22,641 32,637

20,969 28,920

1,672 3,717

7.9%

Outstandings at 31/12

12.8%

Grants Approvals

1,064

1,073

-9

-0.9% 23.5%

Disbursements

832

674

158 185

Undisbursed balance at 31/12

2,965

2,780

6.6%

Outstandings at 31/12

30

25

5

20.7%

Guarantees Approvals Outstandings

-

4

-4

-100.0% -12.0%

137

156

-19

Equity investments Approvals

-

200

-200 200

-100.0%

Disbursements

200

-

0%

Total Approvals

8,362 6,068

8,851 6,690

-489 -622

-5.5% -9.3% 7.8% 12.7%

Disbursements

Undisbursed balance at 31/12

25,606 32,804

23,749 29,101

1,857 3,703

Outstandings at 31/12

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

P while disbursements on grants increased by €0.16bn (an increase of 23.5%) and the €0.2bn bond in South Africa granted in 2020 was paid in 2021. Disbursements in 2021 concerned 18% of grants for the year, compared to 40% of grants in 2020, 12% of grants in 2019, 11% of grants in 2018 and 18% of prior grants. For a breakdown of approvals and disbursements by type of financing, see Appendix ɸ 6.

Total approvals in foreign countries amounted to €8.36bn in 2021 compared to €8.85bn in 2020, i.e. a slight decrease. Total disbursements amounted to €6.07bn. In 2020, they reached the very high amount of €6.69bn compared to €4.37bn in 2019. The 9.3% decrease from 2021 to 2020 is therefore to be

compared with the exceptional level of 2020. This decrease stems from a twofold change: P disbursements fell by nearly €1bn (-16.3%);

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2021 UNIVERSAL REGISTRATION DOCUMENT