AFD - Universal Registration Document 2020

FINANCIAL INFORMATION Post-closing events

The 2021 business plan will initially focus on three main countries, namely Mexico, Colombia and Brazil. In addition, the activities initiated in 2019 in Costa Rica (project loans) will continue, as well as in Bolivia, with discussions to come in early 2021 with the new government resulting from the elections at the end of Ǿ 2020. Interventions in the other five countries of the region will depend on the evolution of the specific contexts of each country: Ecuador (uncertain macroeconomic context and presidential elections scheduled for April Ǿ 2021), Peru (country which still uses very little external debt), Argentina (awaiting a new agreement with the IMF during the first half of 2021) and Cuba (legal uncertainties and difficulties in transferring the Counter-value Fund to AFD). 5.1.3 Borrowings To take into account the new needs of counterparties during the Covid crisis, the Board of Directors of 17 Ǿ September Ǿ 2020 raised the maximum authorised borrowing amount for Ǿ 2020 to €10.7bn. This authorisation was used for an amount of €10.159bn, divided in €9.912bn in bonds and €247M in Treasury resources. 5.1.4 Information about trends There has been no significant deterioration in the financial position of the issuer and its subsidiaries (considered as a whole) since the last audited financial statements of 31 Ǿ December Ǿ 2020. 5.1.5 Signi fi cant change in the issuer’s fi nancial position There has been no significant change in the financial position of the issuer and its subsidiaries (considered as a whole) since the last audited financial statements of 31 Ǿ December Ǿ 2020.

the 2021 target can reasonably be expected to be close to that observed in Ǿ 2020, with a high degree of uncertainty. Lending activity to the private sector will depend on the conclusion of certain infrastructure and renewable energy projects, on the one hand, and on the speed of the recovery from the Covid-19 crisis, on the other. A cautious resumption of Sogefom’s activity is also expected in 2021 with a production of €25.3M of which €8.3M in New Caledonia and €17M in Polynesia. AFD will be attentive to the impact of the roll-out of the portfolio guarantee and the revival of economic activity in these regions in 2021, on which Sogefom’s activity will strongly depend. In foreign countries neighbouring the French overseas territories, AFD set a target for financing authorisations of nearly €469M in grants and loans. The three priority countries for French development aid in the Three Oceans scope – namely Haiti, Madagascar and the Comoros – will benefit from most of the donation effort. The Comoros should continue to benefit from a particularly sustained effort under the France-Comoros Development Plan adopted in July Ǿ 2019; P with a signatures target of €1.2bn, disbursements of €1.1bn and commitment authorisations of €1.5bn, of which around two-thirds in sovereign and one-third in non-sovereign, the year 2021 should confirm the possibility of bringing in significant volumes of financing in Latin America in an uncertain political and economic landscape of sustainable post-Covid recovery. In addition to its objective of 70% of climate co-benefits in the region, AFD will endeavour to combine environmental and social impacts through the promotion of projects or lines of credit to support ecological and social transitions, in accordance with its mandate in the region.

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5.2 Post-closing events

No other significant events took place after 31 Ǿ December Ǿ 2020.

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2020 UNIVERSAL REGISTRATION DOCUMENT