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Registration Document Registration Registration 2017 2017

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Registration Document Registration Registration 2017 2017 DOCUMENT 2 017 REGISTRATION DOCUMENT REGISTRATION REGISTRATION 2017 2017 WorldInCommon METHODOLOGY AND GLOSSARY 2 8 PERSONS RESPONSIBLE FOR THE REGISTRATION DOCUMENT AND THE AUDIT OF THE FINANCIAL STATEMENTS 161 PRESENTATION OF AFD 3 1 8.1. Name and position 162 1.1 General information 4 8.2. Certifi cation of the person responsible 162 1.2 AFD operations 5 8.3. Name, address and qualifi cation of the 1.3 Financing activities on its own behalf 7 fi nancial statements’ statutory auditors 162 1.4 AFD Group 10 8.4. Information policy 162 1.5 Activities of agence française debdeveloppement group in 2017 13 9 ADDITIONAL INFORMATION 163 9.1 Management report cross-reference table 164 CORPORATE SOCIAL RESPONSIBILITY 25 2 9.2 Incorporated by reference 164 2.1 Employee information 29 9.3 Cross-reference table of the Registration 2.2 Environment 36 Document 165 2.3 Information on commitments to promote 9.4 Cross-reference table between the CRR sustainable development 44 articles andbthebPILLARbIII report tables 167 2.4 Report from one of the statutory auditors, 9.5 Appendixb1 – AFD’s operating scope 169 as a designated independent third party, on the inclusion of consolidated corporate, 9.6 Appendixb2 –bAFD Balance sheet using environmental and social data in the French standards (simplifi ed) 172 management report 49 9.7 Appendixb3 –bAFD Income statement using French standards (simplifi ed) 173 9.8 Appendixb4 –bKey ratios and indicators 174 3 CORPORATE GOVERNANCE 51 9.9 Appendixb5 –bResults of operating activities 3.1 Report on corporate governance 52 for the last fi ve reporting years (parent 3.2 Compensation policy andbpractices 60 company) 174 3.3 Conflicts of interest 62 9.10 Appendixb6 – AFD Approvals 175 9.11 Appendixb7 –bSummary table of afd’s 4 RISK MANAGEMENT 63 and Proparco’s loans in foreign countries 176 9.12 Appendixb8 – Table of Proparco’s approvals 178 b4.1 Risk factors 64 4.2 BaselbIII pillarb3 65 4.3 Risk management 73 5 FINANCIAL INFORMATION 79 5.1 Recent changes and future prospects 80 5.2 Post-closing events 81 5.3 ECONOMIC Presentation of the consolidated fi nancial statements 82 6 CONSOLIDATED FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH IFRS ACCOUNTING PRINCIPLES ADOPTED BY THE EUROPEAN UNION 89 6.1 Overview 90 6.2 Notes to the consolidated fi nancial statements 94 6.3 Report of the statutory auditors on the consolidated fi nancial statements 126 6.4 Statutory auditors’ special report on regulated agreements and commitments 130 6.5 Fees paid by the Group to the statutory auditors and members of their network 134 7 AFD’S ANNUAL FINANCIAL STATEMENTS 135 7.1 Highlights of the period 138 7.2 Accounting principles and assessment methods 139 7.3 Notes to the fi nancial statements at 31bDecember 2017 146 7.4 AFD’S fi nancial results over the last fi ve years 156 7.5 Statutory auditors’ report on the annual fi nancial statements 157 REGISTRATION DOCUMENT 2017 www.afd.fr 2017 REGISTRATION DOCUMENT €10.3bn COMMITMENTS BY AFD GROUP (AFD AND PROPARCO) €312.8M NET INCOME - GROUP SHARE €30.4bn €6.3bn 2,531 NET OUTSTANDINGS EQUITY EMPLOYEES This Registration Document was filed with the French Financial Markets Authority (AMF) on 24 th April 2018 in accordance with Article 212-13 of its general regulation. It may be used in support of a financial transaction if it is accompanied by a Transaction Memorandum duly approved by the AMF. This document was prepared by the issuer, whose authorised signatories assume responsibility for its content. www.afd.fr REGISTRATION DOCUMENT 2017 1 METHODOLOGY AND GLOSSARY FIGURES for outstandings. For borrowings, the year’s issues were converted to the closing exchange rate. Due to rounding, the tables’ column totals may differ slightly from the sum of the lines composing them. The abbreviation €K signifies thousands of euros, €M signifies SCOPE millions of euros and €bn signifies billions of euros. Except for the table in Chapter 1.5.3 "AFD Group activities", which Commitments are presented net of cancellations during the year. presents all of the activities carried out by AFD on its own behalf For loans and subsidies, data in foreign currencies have been and on behalf of third parties, all other data included in this converted into euros for payments at the end of the month of document cover the same scope as that used to prepare financial disbursement, using the exchange rate at the date when the statements established according to international accounting commitment was approved and the closing price (31bDecember) standards – in other words, only activities on AFD’s own behalf. GLOSSARY EPIC: Industrial and commercial public undertaking FEXTE: Fund for Technical Expertise and Experience AT: Technical assistance FFEM: French Global Environment Facility ACPR: French Prudential Supervisory Authority Fisea: Investment and Support Fund for Businesses in Africa GBS: General budget support PRGF: Poverty Reduction and Growth Facility Ademe: French Environment and Energy Management Agency FSD: Solidarity Fund for Development AFD: Agence Française de Développement FSP: Priority Solidarity Fund APD: Official Development Assistance MEAE: French Ministry of Europe and Foreign Affairs ARIZ: Support for the Risk of Financing Private Investment in AFD’s Areas of Operation Previously called MAE (French Ministry of Foreign Affairs and International Development) ECB: European Central Bank MINEFI: French Ministry of the Economy and Finance BPI: Public Investment Bank NAO: Mandatory Annual Negotiations C2D: Debt Reduction-Development Contracts SDO: Sustainable development objectives CCE: Central Works Council NGO: Non-Governmental Organisation CEFEB: Centre for Financial, Economic and Banking Studies OSEO: Development Bank for Small and Medium-sized CFF: Crédit Foncier de France Enterprises CHSCT: Health, Safety and Working Conditions committee DC: Developing country CICID: Committee for International Cooperation and PEE: Employee Savings Plan Development LDC: Least developed countries CMF: French Monetary and Financial Code HIPC: Heavily-indebted poor countries COM: Contractual targets and resources MIC: Middle-income countries COS: Strategic Steering Committee RCS: Resources with special conditions CPC: Permanent Control and Compliance Department FFT: Financial transaction tax DFC: Finance and Accounting Department PSZ: Priority Solidarity Zone DFID: Department for International Development DOM: French Overseas Department 2 REGISTRATION DOCUMENT 2017 www.afd.fr 1 PRESENTATION OF AFD 1.1 General information 4 1.4 AFD Group 10 1.1.1 Legal status 4 1.4.1 Consolidation scope 10 1.1.2 General information about AFD’s capital 4 1.4.2 Information about subsidiaries 10 1.1.3 Current breakdown of share capital and voting rights 4 1.4.3 Presentation of subsidiaries 11 1.1.4 AFD’s stock issues 4 1.5 Activities of agence française 1.1.5 Dividends 4 debdeveloppement group in 2017 13 1.2 AFD operations 5 1.5.1 Global economy 13 1.2.1 General comments 5 1.5.2 Information about offi ces and activities at 1.2.2 Activities of AFD on its own behalf 5 31bDecember 2017 14 1.2.3 Other AFD activities 6 1.5.3 AFD Group activities 15 1.2.4 AFD mandate-specifi c activities 6 1.5.4 AFD’s activities in foreign countries 17 1.2.5 AFD’s operating scope 1.5.5 AFD activities in French Overseas Departments and (see AppendixbI) 7 Collectivities 22 1.5.6 Intellectual output 23 1.3 Financing activities on its own behalf 7 1.5.7 Proparco’s activity 24 www.afd.fr REGISTRATION DOCUMENT 2017 3 1 PRESENTATION OF AFD General information 1.1 GENERAL INFORMATION Trade and companies registration RCS Paris B 775 665 599 1.1.1 Legal status Consultation of legal documents Head offi ce At the head office – 5, rue Roland-Barthes – 75598bParis Cedex 12 Agence Française de Développement 5, rue Roland-Barthes Financial Year 75598bParis Cedexb12 From 1bJanuary to 31bDecember. Tel: +33b(0)1b53b44b31b31 Documents available to the public Legal form While this document remains valid, the following documents (or Agence Française de Développement (hereafter “AFD”) is an copies thereof) may be consulted: industrial and commercial State public undertaking (EPIC) with a) AFD’s memorandum of association, amending decrees and the status of a financially-independent legal entity. AFD is a bylaws; financing company with an ongoing role that serves the public b) any reports, correspondence and other documents, historical interest. Its bylaws are defined in ArticlesbR.515-5 to R.515-25 of financial information, appraisals and declarations prepared the CMF (Decree No. 2017-582 of 20bApril 2017). AFD is managed by an expert at AFD’s request, part of which are included or by a Chief Executive Officer who is appointed by decree for a referred to in this Registration Document; three-year term (ArticlebR.515-16 of the CMF) and a Board of c) historical financial information relating to AFD and its Directors (ArticlesbR.515-17 to 19bof the CMF). The Strategic subsidiaries for each of the two financial years preceding the Steering Committee (SSC), a State entity headed up by the publication of this Registration Document. Minister for Development, is responsible for strengthening the link between policy on Official Development Assistance (ODA) set Hard copies of the aforementioned documents may be consulted out by the CICID and the way in which these policies are executed at AFD’s Head Office or on its website, www.afd.fr. by AFD. ACPR supervision 1.1.2 General information about AFD’s capital By a European Central Bank (ECB) decision of 30bJune 2017, AFD was placed under the direct supervision of the French Prudential AFD’s funding Supervisory Authority (ACPR) after AFD asked to change from AFD funding amounts to €2,807,998,856. This may be increased approval as a specialist bank to that of a financing company, through the capitalisation of reserves upon deliberation by the given that (i) it no longer held deposits or repayable funds from Board of Directors and approved by order of the French Minister the public and (ii) Decree No.b2017-582 of 20bApril 2017bamended of the Economy and Finance.
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