Governance and 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 [+]
Pierre-André Périssol was appointed chairman of AFD’s board of governors in June 2010. 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.
► 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:
- Jean-Louis Mattei, Director of Société Générale (outside mainland France), and member of AFD’s board of gover-nors.
- Alain Cadiou, honorary Inspector General of Finances.
- Bernard Diguet, honorary Inspector General of the Bank of France.
- Alain Vizzavona, former Deputy Chief Executive of AFD.
- Frédéric Choblet: Head of the Office for Sub-Saharan Africa and AFD at the Treasury Directorate.
The French government commissioner, Claude Warnet, also attends audit committee meetings.
► 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.
AFD board of governors 2011 key numbers
- 26 board meetings
- 75 hours of discussion
- 465 dossiers reviewed
- 65 dossiers on topics related to AFD’s strategy
- 50 funding decisions approved by the board of governors
- 75 funding decisions approved by the committee for foreign countries
- 15 funding decisions made by the committee for the French Overseas Provinces
- 100 funding decisions approved by the committee for NGOs
- 160 funding decisions approved by the chief executive officer