Press release
Paris, 14 May 2008
AFD announces strong growth in activities to support sustainable development
On Wednesday 14 May Jean-Michel Severino, Chief Executive Officer of Agence Française de Développement (AFD), presented AFD’s 2007 results. With 3.5 billion euros of commitments AFD achieved strong growth in its activities with a focus on supporting sustainable development. 2007 was also a year of effectiveness which is underscored by the impacts announced by AFD..
2007: strong growth in activity
In 2007 AFD commitments reached 3.5 billion euros, i.e. a 13% rise on the previous year. Reducing poverty and social and economic inequalities accounted for two-thirds of AFD financing, ahead of support to growth (42% of commitments) and protecting the environment (20%).
Results for aid effectiveness
Evaluation and impact measurement have been core to AFD’s strategy for several years.
“Our targets come hand in hand with a real obligation to deliver. Our fellow citizens expect us to prove our effectiveness which is why we measure the real impacts of our action” said Jean-Michel Severino.
AFD has developed specific measurement tools for this which allow it to make concrete and accurate evaluations of its action.
In 2007 thanks to AFD commitments in developing countries:
- 4 million people were supplied with drinking water,
- 4.7 million children got into school,
- 2 .7 million tons of CO2 were saved,
- 22.5 million people were connected to telecommunications networks,
- 2 .2 million patients received healthcare,
- 6.5 million people benefited from projects to support agriculture,
- 114 million m3 of drinking water were saved every day.
A wide range of instruments tailored to needs
In 2007 AFD widened its range of instruments by enhancing financial engineering and innovation: public savings, instruments at market conditions, in local currency etc.
As Jean-Michel Severino, CEO of AFD explains:
“We strive to find solutions to global issues and to achieve this we need a wide range of instruments”.
Increasing and diversifying partnerships
AFD continued to work with all development actors such as international organizations and development banks, but also began initiating dialogue with more recent partners such as foundations, enterprises or local authorities.
“2007 is the first year where financing for non-sovereign stakeholders (local authorities, enterprises, NGOs…) accounted for the bulk of our commitments” announced Jean-Michel Severino."
Eight agreements were signed with local authorities and €109M were allocated to local authorities from the South. Closer ties were established with NGOs and a specific instrument was even created for them: the sectoral innovation facility with a €10M budget. Finally, partnerships were established in the private sector: the €10M Presidential Initiative for Africa will support 2 000 enterprises and create over 300 000 jobs.
- Listen to the CEO’s presentation (French version)
Agence Française de Développement (AFD) is a specialized financial institution and the central operator for France’s official development assistance to poor countries and support to French Overseas local authorities. In this capacity, AFD contributes to poverty reduction, supports economic growth and environmental preservation. AFD finances projects led by local public authorities, public enterprises, the private sector and associations. . www.afd.fr
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