France's AFD reaches record-high level of investment in 2016
The French development agency (AFD) has published its results for 2016, finding that the agency’s investments reached a record high €9.4 billion (US$10.4 billion), increasing by 13% since 2015. This is in line with the government's intention to step up its volume of activity to reach a yearly €12.7 billion by 2020 (US$14.1 billion). Notably, the results:
- Reaffirm France's strong focus on Africa with around €4 billion going to the continent in 2016. Looking forward, this level is likely to increase further as France has committed to invest €23 million in Africa between 2017 and 2021.
- Recognize the ‘strategic alliance’ signed between the AFD and the Deposits and Consignments Fund (CDC) in December 2016 as an important milestone for the AFD. The partnership is now operational, and has led to the establishment of a €600 million infrastructure investment fund, aimed at investing in Africa.
In an interview, AFD’s Director, General Rémy Rioux, also reiterated the agency’s focus on climate, Africa, and gender.