Governance and management

As a public entity, AFD is held accountable for its actions. Its governance structure ensures transparency and good management.

► Strategic orientation board [+]

The strategic orientation board was created in June 2009. It oversees both preparation and execution of the “means and objectives” contract that binds AFD to the French state. The board prepares the state’s guidelines before they are presented to AFD’s board of governors, in accordance with decisions made by the Interministerial Council for Cooperation and Development. The Minister of Cooperation presides over the strategic orientation board, which includes representatives from those supervisory ministries that also hold seats on AFD’s board of governors.

► Board of governors [+]

Laurence Tubiana was appointed chairman of AFD’s board of governors in June 2013. The board comprises 17 members: six represent the French government; five were appointed because of their expertise in economics, finance, ecology or sustainable development; four represent the French parliament; and two are elected representatives of AFD Group employees. A government commissioner also sits on the board.
The board of governors deliberates on the following issues:

  • AFD’s strategic direction and its means and objectives contract with the French government.
  • AFD’s financial operations and investments for its own operating accounts, for those of the French government, and for third party mandates.
  • AFD’s borrowings, its terms and conditions for granting financing, annual financial statements and projections, acquisition and disposal of real estate, opening and closing of field offices, transactions related to AFD’s interests, and selection of external auditors.

The board of governors may delegate part of its authority to AFD’s chief executive officer, who must answer to the board for actions taken under that remit. Or, the governing board may delegate – within preset funding limits – to one of three special committees:

  • Committee for Operations in the French Overseas Provinces.
  • Committee for Operations in Foreign Countries.
  • Committee to Support Nongovernmental Organizations’ Initiatives.

The AFD Board of Directors

► Management [+]


► Audit committee [+]

The audit committee verifies the quality of information furnished by all of the AFD Group’s divisions, and assesses the accounting methods used as well as the quality of internal controls. Currently, the audit committee is made up of one member from AFD’s board of governors and four external members.

► History and status [+]

As a specialized financial institution, AFD comes under banking law. It consequently combines the functions of a development bank with those of an implementing agency for France’s official development assistance policy. In the French Overseas Communities, AFD implements a policy, on behalf of the State, to support local public authorities and finance the economy.

Find out more about AFD’s history and status

Last update in February 2017

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