French Development Agency (AFD) celebrates 70th Anniversary

Islamabad, 13 December 2011

 

PR 11/11

 

French Development Agency (Agence Française de Développement, AFD) was created in December 1941. AFD, a specialized financial institution, and PROPARCO, a subsidiary under state control dedicated to financing private operators, form together the AFD Group. AFD Group is a public entity for French bilateral cooperation, working under the aegis of two main line ministries: Foreign Affairs and Economic & Finance. It is a development-dedicated finance and aid organization that implements French aid policies, with different financial tools from grants to loans & guarantees. It has today 68 regional & national offices for 105 countries, and employs around 1,700 employees out of which 900 in the headquarters in Paris.

 

AFD Group has approved 6.8 billion Euros of funding worldwide in 2010 – twice the amount provided in 2007. More than one third is aimed at infrastructures & urban development.

 

In Pakistan, the first AFD project supported in 2006 the reconstruction of 18,500 houses in the areas impacted by the 2005 earthquake. AFD agency in Islamabad opened in 2007. AFD’s mandate in Pakistan, upon request of Pakistani authorities, is focused on “Green Energy”: improving the energy efficiency, and promoting renewable energy through hydropower.

 

AFD supports the rehabilitation of Jabban hydropower project in Malakand, and is working on other hydropower projects in AJK, KPK and Gilgit-Baltistan.

 

AFD is supporting FATA with a grant in the health sector, in co-financing with Germany.

 

AFD is also supporting capacity-building for the hydropower sector in Pakistan, jointly with WAPDA and HEB.

 

In the near future, AFD’s expected funding in promoting hydropower in Pakistan should reach about 240 million Euros, contributing to an additional installed capacity of 221 MW.

 

Proparco has financed 3 projects in Pakistan, mostly in the energy sector. Proparco is part of the first private hydropower project in Pakistan, New Bong Escape, implemented by the Laraib Company.

 

In total, the AFD Group has invested a total of 201 M.Euros in Pakistan since 2006 (156 M.Euros from AFD plus 45 M.Euros from Proparco).

Dernière modification : 11/01/2012

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