AFD - Universal Registration Document 2020

CONSOLIDATED FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH IFRS 6 Statutory auditors’ special report on related-party agreements

Agreements approved in prior years that were not implemented during the year In addition, we were informed of the following agreements, approved by the Board of Directors in previous years, which were not implemented during the year. With the european investment bank Risk sharing framework agreement with the EUROPEAN INVESTMENT BANK On 22 December 2016, AFD signed a risk sharing framework agreement with the European Investment Bank. Through this, the EIB shares risk up to a maximum amount of €150,000,000 for projects included in the portfolio of eligible projects. These are projects for which a confirmation of participation has been signed by AFD and the EIB. In the event of payment default, AFD may send notification to the EIB indicating the amount and the nature of the unpaid sums, their due date and the amount of the EIB’s share of these sums. Up to the threshold of its available participation commitment, the EIB is committed irrevocably to paying AFD within a period of 60 Ǿ days following receipt of the notification, an amount corresponding to its percentage share. In exchange for the EIB’s risk sharing commitment, AFD will pay the EIB a risk sharing commission calculated for each project. Should a project default, no participation commission will be payable from AFD to the EIB. The EIB’s risk sharing benefits from a European Union guarantee in respect of the European Fund for Strategic Investments. This agreement was approved by the Board of Directors on 15 December 2016. WITH THE SOCIETE DE DEVELOPPEMENT REGIONAL ANTILLES GUYANE (SODERAG) Cessation of interest on advances to shareholder current accounts In 1997, 1998 and 1999, AFD granted SODERAG interest-bearing current account advances in the amount of €47,000. These advances were intended to reinforce SODERAG’s capital. Because of SODERAG’s irremediably compromised position since it went into voluntary liquidation in 1998, and given AFD’s status as sole shareholder, on 5 July 2001 AFD’s Supervisory Board authorised the cessation of interest on all of its shareholder current account advances. Provision of non-interest bearing shareholder advances to SODERAG Between 1999 and 2005, AFD provided its subsidiary with additional non-interest-bearing current account advances to SODERAG so that its liquidation could continue. At 31 December 2020, SODERAG’S debt to AFD under agreements signed between 1997 and 2005 totalled €106,346,000. With Fondation pour les Études et Recherches sur le Développement International (FERDI) and Fondation de Recherche pour le Développement Durable et les Relations Internationales (FONDDRI) Lending agreements Under two agreements signed with FERDI and FONDDRI, respectively, AFD undertook in 2000 to grant an interest-free loan of €12,500,000 to each foundation, repayable in one instalment after 15 years. Loan outstanding amounted to €25,000,000 at 31 December 2020. AFD received no remuneration under these agreements in 2020. With Société de Promotion et Participation pour la Coopération économique (PROPARCO) Co- fi nancing framework agreement between PROPARCO and AFD On 18 May 2017, the AFD Board of Directors approved the signing of an agreement with its subsidiary PROPARCO. This framework agreement, signed on 27 November 2017, aims to clarify and streamline the procedures for processing co-financed projects for the private sector, to help AFD Group meet its objectives. The benefits of this agreement are the streamlining of the procedures and processing costs and monitoring of co-financed projects. Under the financial terms of the agreement, the processing and project monitoring costs will be split equally by sharing the processing and administration fees payable by each counterparty.

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2020 UNIVERSAL REGISTRATION DOCUMENT