AFD - Universal Registration Document 2020

A word from the CEO

2 3 5 6 8

6.3 Statutory auditor’s report on the consolidated financial statements

169

Our key fi gures

6.4 Statutory auditors’ special report on related- party agreements

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

174 178

6.5 Statutory auditors’ fees

7

1

AFD’S annual parent company fi nancial statements BALANCE SHEETAT 31 DECEMBER 2020 BALANCE SHEETAT 31 DECEMBER 2020 183 7.2 Accounting principles and assessment methods 185 7.3 Notes to the financial statements at 31 December 2020 193 7.4 AFD’s financial results over the last five financial years 204 7.5 Statutory auditor’s report on the financial statements 205 179 180 181 182 2020 INCOME STATEMENT 7.1 Highlights of the financial year

Presentation of AFD 1.1 General information

9

10 11 12 15 17

1.2 AFDGroup’s 2018-2022 strategy

1.3 AFD operations

1.4 Financing activities on its own behalf

1.5 AFDGroup

1.6 Activities of the Agence Française de Développement Group in 2020

20

2

Statement of Non-Financial Performance

39

2.1 The business model

41

8

2.2 Identification of themain non-financial challenges and risks 2.3 Managing the risks and impacts of our action 2.4 The Group’s contribution to sustainable development 2.5 Transparency and dialogue with stakeholders 2.6 Coordinationwith development actors: priority to partnership

Person responsible for the Registration Document and the Audit of the fi nancial statements

41 44 48 54 56 57 61

211

8.1 Name and position

212 212 212 212

8.2 Certification of the person responsible 8.3 Name, address and qualification of the financial statements’ statutory auditors

2.7 Fair practices

8.4 Information policy

2.8 Ameaningful work environment

9

2.9 Report by one of the Statutory Auditors, appointed as independent third party on the consolidated non-financial statement

Additional information 213 9.1 Cross-reference table of themanagement report214 9.2 Incorporation by reference 215 9.3 Cross-reference table between Appendices 1 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 simplified balance sheet based on French GAAP 9.7 Appendix 3 – AFD simplified income statement based on French GAAP 9.8 Appendix 4 – Key ratios and indicators 9.9 Appendix 5 – Results of operating activities for the last 5 reporting years (parent company basis) 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 218 221 223 224 225 225 226 227 230 9.10 Appendix 6 – AFD approvals 232 235 and 2 of the delegated regulation 2019/980 and the Universal Registration Document 215

67

3 4

Corporate governance

69

3.1 Report on corporate governance 3.2 Remuneration policy and practices

70 79

Risk management

83

4.1 Risk factors

84 92

4.2 Basel III Pillar 3 4.3 Riskmanagement

101

5

Financial information

109

5.1 Recent changes and future prospects

110 111

5.2 Post-closing events

5.3 Economic presentation of the consolidated financial statements

112

6

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

119

6.1 Overview 120 6.2 Notes to the consolidated financial statements 126