AFD financed the reforestation of southern and western areas of Aberdares through the Green Belt Movement; an NGO founded in 1977 by Nobel Peace Prize winner, Wangari Maathai (2004).
AFD supports the City of Kisumu located on the shores of Lake Victoria in terms of access to water and sanitation (rehabilitation of the existing system), as well as developing basic services (Kisumu Urban Project).
AFD has supported the production of geothermal energy in Olkaria. This project has helped reduce significantly the price of electricity.
AFD together with the World Bank has financed the expansion of the Jomo Kenyatta International Airport. The new Terminal 1 was commissioned in 2014 and has significantly increased the capacity of the airport in terms of number of passengers and also improved passenger's safety.
On the occasion of the visit Jean-Marc Ayrault, French Minister for Foreign Affairs and former Prime Minister, the AFD strengthens its support to the development of the Kenyan electricity sector by the signing of a new 33 million Euro financing (about 3.7 billions Kenyan shillings).
This financing agreement was signed in Nairobi on August 1st, at State House, by the Cabinet Secretary Henry Rotich with Bruno Deprince, Regional Director for East Africa of AFD, in presence of President Uhuru Kenyatta and Jean-Marc Ayrault, French Minister for Foreign Affairs and former Prime Minister.
This 33 million Euro financing will support the installation of renewable energy generation units (primarily solar photovoltaic, but also in some cases wind turbines) in 23 mini-grids currently powered by diesel generators. This operation will be implemented by Kenya Power; a company owned 50,1% by the Government of Kenya in charge of electricity distribution in the country.
It is expected that around 9.6 MW of solar photovoltaic and 0.6 MW wind capacities will be installed. The project is in particular expected to:
- reduce the average cost of electricity production of mini-grids by an average of 20%;
- contribute to the improvement of energy security of supply of Kenya;
- support economic development by promoting more reliable electricity service;
- reduce greenhouse gas emissions associated with the combustion of diesel.
This new project contributes to the long-term partnership developed between the Kenyan authorities and AFD in the energy sector. Since the beginning of its activity in Kenya in early 2000, AFD committed over 800 million € of loans to the Kenyan power sector, spread across the entire industry value chain: drilling for the development of geothermal energy, renewable energy plants, national grid and interconnection with Ethiopia, electrification in rural areas and in urban areas, and even support for investment in the sector by SMEs. AFD Group is among the biggest financiers of the sector.
In particular, this new project is part of a long term partnership between Kenya Power and AFD. Indeed, AFD has already made funds available to Kenya Power to set up the Stima Loan (microfinance facility of Kenya Power to cover customer contribution for connection to the electricity network), to implement past rural and urban electrification projects and to support the implementation of Kenya Power Distribution Masterplan. The two institutions are also about to partner for a 120 million Euro -corresponding to about 13.5 billion Kenyan Shillings- contribution (including a 30 million Euro grant from the European Union channelled through AFD) to the Last Mile Connectivity programs which aims at fast-tracking electrification at national scale.
Like all the projects supported by AFD in Kenya in this field, this new financing is aligned with the key pillars of France's cooperation policy in the energy sector, i / promoting access to electricity for all, ii / supporting sustainable economic development, and in particular iii / supporting the development of renewable energy to contribute to the fight against climate change, following the CoP21 that was hosted in Paris.
Referring to the climate negotiations hosted in Paris (Cop21), the French Minister for Foreign Affairs highlighted that “one of the critical topics of those international discussions is the financing of the fight against climate change. The signing of this financing agreement shows that significant resources are indeed made available to the States, parastatals and the private sector to support climate friendly projects. France is committed to provide such financial resources and has announced recently that it will increase by 2 billion euros [more than 220 billion Kenyan Shillings] a year its commitment to the fight against climate change in developing countries.
The French Minister for Foreign Affairs also highlighted that this financing was aligned with the “Joint Declaration on Sustainable Energy signed by Kenya at the Cop21 in Paris, to which France, EU, Italy, the Netherlands and the US are parties”.
Kenya Power is the biggest company in the electricity sector in Kenya. It is in charge of electricity distribution and of the management, maintenance and strengthening of transmission lines built before the creation of Ketraco (in charge of new electricity transmission lines). Kenya Power is today the single buyer of electricity generated or imported into Kenya. Kenya Power is a public company 50.1% owned by the Kenyan government. The company is listed on the Nairobi Securities Exchange.
Rémy Rioux appointed Chief Executive Officer of Agence Française de Développement by the Council of Ministers today, 25 May 2016
Today, on a proposal made by François Hollande at the Parliament on 27 April 2016 and following a unanimous favorable vote of MPs and a majority of Senators, Mr. Rémy Rioux, 46, Deputy Secretary General of the French Ministry of Foreign affairs and International Development, has been appointed Chief Executive Officer of Agence Française de Développement, a Public Industrial and Commercial Establishment responsible for development in Southern countries and the French overseas territories. Rémy Rioux, AFD’s 11th Chief Executive Officer, will take over as head of AFD on 2 June 2016.
Rémy Rioux was born in June 1969 in Neuilly-sur-Seine and is an alumnus of the Ecole Normale Supérieure, rue d’Ulm, Sciences Po, and the Ecole Nationale d’Administration. He is a historian by training, a former student of Alain Corbin and Pierre Nora, and Senior Advisor at the Court of Auditors. During his career, he has alternately held responsibilities in France and for development in Africa.
Rémy Rioux appointed Chief Executive Officer of AFD © Alain Buu
At the age of 26, Rémy Rioux discovered Africa during an ENA internship in Benin, and subsequently by campaigning to promote the harmonization of business law in Africa. He has a love of this continent and has travelled across it throughout his career, established close ties there, and acquired a recognized expertise in development issues. He worked at the Directorate of the Treasury from 2004 to 2007, and subsequently from 2010 to 2012, where he contributed to modernizing monetary cooperation with African Franc Zone member countries, participated in the resolution of the Ivorian crisis, and contributed to making the issue of infrastructure and development central to the international agenda of the G20. At the time, he was a Member of the Boards of Directors of AFD and its subsidiary PROPARCO.
Rémy Rioux also conducted control missions in the energy and defense sectors at the Court of Auditors between 1997 and 2004. He worked at the Ministry of the Interior from 2000 to 2002, at the Office of the Minister Daniel Vaillant, where he was responsible for the budget and changeover to the euro. He also held a position at the State Holdings Agency (APE), from 2007 to 2010, as Chief Investment Officer responsible for the transport and media sectors, and sat on the Boards of Directors of various companies (SNCF, RATP, ADP, Renault, France Télévisions, France Médias Monde, Arte, le Grand Port Maritime du Havre).
In 2012, he was Director of the Office of the Minister of the Economy, Finance and Foreign Trade, Pierre Moscovici. He was actively involved in redefining economic relations between Africa and France and in the work conducted by Jacques Attali on economic Francophonie. Two years later, Laurent Fabius, Minister of Foreign Affairs and International Development, appointed him Deputy Secretary General of the Ministry, in charge of economic issues. Alongside the Minister, he managed the financial component of the negotiations for COP21.
Following the announcement made by the French President in September 2015 of a revival of France’s Official Development Assistance policy and an increase in development and climate finance (by EUR 4bn by 2020, to reach EUR 12.5bn of annual commitments, including EUR 5bn for the climate), he was entrusted with a preparatory mission for the establishment of closer ties between Agence Française de Développement and Caisse des Dépôts, which aims to provide France with a tool capable of meeting the challenges of the Sustainable Development Goals.
He is a man of dialogue and conviction and is deeply attached to the Massif Central region, particularly Corrèze and Lozère, where he regularly stays with his wife and three children.
- 26 June 1969: Born in Neuilly-sur-Seine, France
- 1997: Auditor at the Court of Auditors on leaving ENA (Marc Bloch Class), where he became Senior Advisor in 2013
- 2001 and 2002: Budget Advisor at the Office of Daniel Vaillant at the Ministry of the Interior
- 2003: Control missions in the energy and defense sectors at the Court of Auditors
- 2004: General Directorate of the Treasury, Head of the Office for Monetary and Development Cooperation with African, Caribbean, Pacific and Franc Zone countries
- 2007: Deputy Director for the transport and audiovisual sectors at the State Holdings Agency (APE)
- 2010: Deputy Director for international financial affairs and development at the General Directorate of the Treasury
- 2012 to 2014: Director of the Office of Mr. Pierre Moscovici at the Ministry of the Economy and Finance
- 2014: Deputy Secretary General of the Ministry of Foreign Affairs and International Development in charge of economic affairs
- 2015: Responsible for financial matters in the French negotiation team for COP21.
- June 2016: Appointed the 11th Chief Executive Officer of Agence Française de Développement.
On the occasion of the official visit of the kenyan president Uhuru Kenyatta in France, AFD strengthens its support to the development of the kenyan electricity sector by the signing of new operations amounting to a total of 180 million euros.
Speed up access to energy for Kenyans
A memorandum of understanding for the provision of 90 million euros to support the new electrification policy of the country was signed between AFD and Kenya. Indeed, the kenyan authorities are seeking to achieve universal access to electricity in the coming years and have developed an ambitious nationwide program. The resources made available to the Kenyan authorities are a 90 million euro loan from AFD and a 30 million euro grant from the European Union (financing facility of infrastructure in Africa, EU-ITF) whose management has been delegated to AFD. The funds provided by AFD could electrify up to 1.3 million people spread over a large part of the Kenyan territory.
60 million euros to finance the wind farm
In addition, a memorandum of understanding was signed with Mr. Albert MUGO, Managing Director and CEO of KenGen, a company owned 70% by the Kenyan state, operating in the electricity production sector and providing three-quarters of the country's supply. The signed MoU aims to make available to KenGen 60 million euros to finance the wind farm in Meru County. With the expected co-financing of the German cooperation (KfW), it is expected that the Meru wind farm will provide up to 80 MW of generation capacity.
90% of Kenya's electricity comes from renewable resources
This will strengthen the positioning of Kenya as a model for countries able to combine development and the fight against climate change: indeed, its electricity is for over 90% derived from renewable sources, as geothermal indeed provides half of the electricity consumed followed by hydropower accounting for about 40% of consumption. The financing provided by AFD to KenGen is a direct loan without guarantee of the Kenyan State; the planned mobilization of such a financial tool illustrates the excellent performance of KenGen, as well as the AFD’s confidence in the company and in general in Kenya's power sector.
Fifty years of partnership
These new projects are in the long-term partnership developed between the Kenyan authorities with AFD in the energy sector. Since the beginning of its activity in Kenya in early 2000, AFD committed over 800 million € of loans to the Kenyan power sector, spread across the entire industry value chain: drilling for the development of geothermal energy, renewable energy plants, national grid and interconnection with Ethiopia, electrification in rural areas and in urban areas, and even support for investment in the sector by SMEs. France is among the biggest financiers of the sector.
Just like all the projects supported by AFD in Kenya in this field, the operations signed this April 4 are aligned with the key pillars of France's cooperation policy in the energy sector, i / promoting access to electricity for all, ii / supporting sustainable economic development, and in particular iii / supporting the development of renewable energy to contribute to the fight against climate change.
The two signings were held at the Elysée Palace between the AFD’s Deputy Chief Executive Officer, Mr. Jacques Moineville, in the presence of Kenya's president of the Republic, Mr. Uhuru Kenyatta and the president of the french Republic, Mr. François Hollande.
SUNREF East Africa formally entered the Uganda Market after the Kenya Association of Manufacturers (KAM) and Uganda Manufacturers Association (UMA) signed an accord to extend this program developed by Agence Française de Développement (AFD) to the East African country.
The Focal Point agreement between KAM and UMA allows the SUNREF East Africa program to have a focal point organization to drive its day-to-day activities in Uganda.
AFD has launched the SUNREF website for its partners and green finance actors. The aim of this website is to be a platform to exchange ideas, share, and take action, while being an ecosystem for green finance by disseminating knowledge and creating networks among actors in the sector. It will also provide information on the projects and partners of this innovative program.
Seizing the opportunities of the ecological transition
The transition towards a greener model holds considerable economic development potential. Green growth provides the private sector with a number of opportunities in the fields of energy management, sustainable natural resources management and environmental protection. In Southern countries, financing this green growth poses a major challenge to which AFD contributes, thanks to the SUNREF program, in partnership with green finance actors (banks, companies, public authorities, donors…).
Green credit line for the private sector accessible via partner banks
The aim of the SUNREF (Sustainable Use of Natural Resources and Energy Finance) program, AFD’s green finance label, is to facilitate access to affordable sustainable energy in order to ensure the development of a low-carbon economy and contribute to mitigating the causes of climate change.
SUNREF helps private actors in Southern countries seize the opportunities of the ecological transition and encourages local banks to finance it on customized financial terms. This innovative range of services consequently gives the private sector greater access to bank financing to purchase better quality equipment, and thereby make savings and increase its competitiveness, thanks to better energy management and by taking the environment into account.
SUNREF also offers its partners an integrated approach which aims to strengthen the capacities of all actors, thanks to a technical assistance program whose role is to support and boost the market for financing green investments: assisting banks in project financing and helping companies implement strategies for an optimized use of energy and natural resources.
SUNREF website: A platform dedicated to green finance
AFD has made a dedicated platform available to green finance actors (banks, companies, donors, public authorities) which allows them to collect, disseminate and capitalize on best practices. The SUNREF website is thereby an ecosystem for green finance which provides actors in the sector with new opportunities to implement innovative and effective operational approaches. Finally, this website gives an additional understanding of the green finance projects implemented by AFD, the green investments made in Africa, the Indian Ocean, Latin America, Asia and the Mediterranean, SUNREF’s innovative approach and its benefits, its partners, and the types of eligible financing. SUNREF’s aim is to pool the efforts of all actors in order to facilitate the scaling up which is essential for addressing the environmental challenges.
For further information ► www.sunref.org
SUNREF (Sustainable Use of Natural Resources and Energy Finance) is AFD’s green finance label. In a context of energy and environmental transition, SUNREF helps private actors in Southern countries seize the opportunities of this transition via an innovative approach and encourages local banks to finance it. To date, 42 SUNREF projects have been successfully implemented since 2006, in partnership with 70 local banks in some 30 countries of operation, for a total commitment of over EUR 2.5bn of loans allocated by AFD, including EUR 1.2bn already disbursed.