History and Status

History and Status

AFD traces its origins back to 1941 when General de Gaulle, having obtained refuge in London, founded an organization that was AFD’s direct predecessor: The Central Fund of Free France (Caisse centrale de la France libre or CCFL) was establish by the law of December 2nd.  Its primary role was to act as a public treasury and central bank.  In 1943, its headquarters was moved to Algiers.

AFD History and Status

  • 1944-1958 :  After the Liberation, a major cooperation mechanism between mainland France and its overseas colonial territories was established.  The CCFL headquarters was moved to Paris and became the main financial institution for overseas cooperation and financing.  The CCFL played a vital role in the development of infrastructure and staff training for the French Overseas Territories. It became known as the Central Fund for Overseas Territories.
  • 1958-1981 :  As most French Overseas Territories gained independence, the Central Fund for Overseas Territories, became the Central Fund for Economic Cooperation (CFEC).  It helped establish new states from the former colonies even as its geographical scope expanded beyond them.
  • 1981-1989 :  The global economic crisis exposed the fragility developing countries’ economies.  The CFCE became involved with new areas and priorities, such as structural adjustment, support for the commercial sector and private sector initiatives.
  • 1989-1992 :  As the world underwent a number of political, economic and social upheavals, the CFCE’s activity expanded from loans and equity holdings to include grants being made available to the poorest countries.  In 1992, the CFCE became the French Development Fund.
  • 1992-1996 :  As globalization created new priorities, the French Development Fund became the Agence Française de Développement, which is the French Development Agency, or AFD.  As the mechanism for development and cooperation was reformed, the French government conferred new missions upon AFD, reiterating its role as a development bank whilst broadening its capabilities to address priorities in social sectors, as well as in economic sectors of activity.

Decrees that Define AFD's Status

  • Decree of October 30, 1992 set out AFD’s bylaws.

  • Decree of April 17, 1998 changed the name of the to AFD (it was previously known as the Caisse Française de Développement).

  • Decree of September 11, 2000 adapted the bylaws of AFD to reflect a reform of the public cooperation mechanism. 

  • Decree of October 30, 2002 rounded out the Decree of 1992 by authorizing AFD to ensure representation of the European Community and to manage its financial operations.
  • Decree of 11 June 2008 : AFD’s Board of Directors now includes a representative of the Ministry of Immigration, Integration, National Identity and Mutually-Supportive Development (MIIINDS).
  • The conclusions of the Inter-ministerial Committee for International Cooperation and Development (CICID) of 5 June 2009: authorize AFD to operate in about ten new Asian and Latin American countries (Mexico, Colombia, Bangladesh, Malaysia, Philippines, Sri Lanka, Kazakhstan, Uzbekistan and Mongolia), for targeted operations under a mandate for “green and inclusive growth”. Consult the Decree of 5 June 2009 relating to Agence Française de Développement