"The alliance will enable us to align our priorities in France and on the international stage (…) Through this new momentum the AFD will gain in capacity and innovativeness, as a bank with solutions," highlighted Rémy Rioux, CEO of the AFD.
Several areas where we could pool our expertise have been identified, including:
- implementing the Paris Agreement on the Climate and aligning the two institutions' carbon footprint strategies;
- developing proposals on smart cities which create innovative urban services in France and worldwide;
- deploying digital technology;
- economic research and innovation (setting up a development lab at the AFD, with the support of Caisse des Dépôts).
Through this alliance the AFD will be able to increase its involvement in local areas thanks to Caisse des Dépôts' close relationship with its partners (businesses, local authorities, etc.). At the same time, the AFD will help to increase Caisse des Dépôts' international outreach and support it in the assistance it lends to its partners abroad.
Lastly, a joint investment vehicle currently being looked into, with a target size of €500mn, will be set up in 2017. This will focus on the financing of infrastructure for the benefit of sustainable development in developing countries – Africa in particular.
The AFD, a public financial institution, implements the policy defined by the French government to combat poverty and encourage sustainable development. Operating across 4 continents via a network of 75 field offices, the AFD funds and supports projects which improve populations' living conditions, underpin economic growth and protect the planet. In 2015, the AFD devoted €8.3bn to financing projects in developing countries and in favour of overseas territories.