Governance

As a public institution, AFD is subject to the principle of accountability. Its governance is based on a set of structures that ensure the transparency of its operation and its sound management.
Image générique AFD
AFD has now become a financing company. It was granted this status by the European Central Bank on 30 June 2017. It had previously had the status of a credit institution under French law. This change does not affect AFD’s EPIC (Public Industrial and Commercial Undertaking) status under French law, and its mandate and objectives remain unchanged.

Board of Directors

AFD’s Board of Directors has been chaired by Laurence Tubiana since June 2013. It is made up of seventeen members: six representatives of the State, five qualified individuals appointed for their knowledge of economic and financial problems, or of ecology and sustainable development, four parliamentarians, and two members elected by the staff. A Government Commissioner also holds a seat on the Board.

The Board of Directors deliberates on:

  • The strategic orientations and Means and Objectives Contract concluded with the State
  • The operations and financing implemented on its own behalf and for the State, or with mandates from third parties
  • The borrowings, the terms of the financing allocated, the provisional financial statements, the annual accounts, the acquisitions or sales of buildings, the creation or closing of local agencies, AFD’s interest transactions, the appointment of auditors

It may delegate part of its powers to the Chief Executive Officer, who reports to it in this respect, or within a delegation limit to one of the three specialized committees:

  • Committee for operations in the French overseas departments and territories
  • Committee for operations abroad
  • Committee to support the initiatives of non-governmental organizations 
     

Audit Committee

The Audit Committee is responsible for verifying, for all AFD, the quality of the information provided and for assessing the relevance of the accounting methods, as well as the quality of internal audit. The Audit Committee comprises a member of the Board of Directors and four external figures.

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