AFD // 2021 Universal Registration Document

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A word from the CEO

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

Our key fi gures

Our 2018-2022 strategy 4 Main ɸ operation regions Methodology and glossary

123

6.1 Overview 124 6.2 Notes to the consolidated financial statements 130 6.3 Statutory auditors’ report on the consolidated financial statements 175 6.4 Statutory auditors’ special report on related party agreements 180 6.5 Statutory auditors fees 184

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Presentation of AFD 1.1 General information

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10 11 12 15 17

1.2 AFDGroup’s 2018-2022 strategy

1.3 AFD operations

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1.4 Financing of own-account activities

1.5 AFDGroup

AFD’S annual parent company fi nancial statements

1.6 Activities of the Agence Française de Développement Group in 2021

185

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7.1

Highlights of the financial year

189

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7.2 Accounting principles

Statement of Non-Financial Performance

and assessment methods

190

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7.3 Notes to the financial statements at 31 December 2021 7.4 AFD’s financial results over the last five financial years 7.5 Statutory auditors’ report on the financial statements

198

2.1 The business model

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2.2 Identification of themain non-financial challenges and risks 2.3 Managing the risks and impacts of our action 2.4 Contribution of the Group’s activity to sustainable development 2.5 Transparency and dialogue with stakeholders 2.6 Coordinationwith development players: the “Priority to partnership”

210

41 44 50 57 59 62 65

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Person responsible for the Registration Document and the ɸ audit of the fi nancial statements 217 8.1 Name and position 218 8.2 Certification of the person responsible 218 8.3 Name, address and qualification of the financial statements’ statutory auditors 218 8.4 Information policy 218 219 9.1 Cross-reference table of themanagement report 220 9.2 Incorporation by reference 221 9.3 Cross-reference table between Appendices 1 Additional information and 2 of the delegated regulation 2019/980 and 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 balance sheet using French standards (simplified) 9.7 Appendix 3 – AFD income statement using French standards (simplified) 9.8 Appendix 4 – Key ratios and indicators 9.9 Appendix 5 –Results of operating activities for 221 224 227 229 230 231 the last 5 reporting years (parent company basis) 231 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 233 236 238 241 9.10 Appendix 6 – AFD approvals 232

2.7 Fair practices

2.8 Ameaningful work environment 2.9 Report by one of the Statutory Auditors,

appointed as independent third party, on the consolidated non-financial statement

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3 4

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Corporate governance

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3.1 Report on corporate governance 3.2 Remuneration policy and practices

76 84

Risk management

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4.1 Risk factors

88 96

4.2 Basel III Pillar 3 4.3 Riskmanagement

105

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Financial information

113

5.1 Recent changes and future outlook 5.2 Events after the reporting period

114 115

5.3 Economic presentation of

the consolidated financial statements

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www.afd.fr

2021 UNIVERSAL REGISTRATION DOCUMENT