Where does AFD Group's global investment money come from?

In 2023, the Agence Française de Développement (AFD) Group invested nearly €12 billion towards achieving the United Nations' Sustainable Development Goals.

Approximately 85% of these resources were obtained through loans from banks and pension funds, while the remaining 15% came from public subsidies provided by the French government, the European Union, and other backers.

Benefiting from France's strong financial standing as its sole shareholder, AFD Group secures favorable terms on financial markets, enabling it to offer loans to sustainable development stakeholders and partner countries.

The operational expenses of the AFD Group—including salaries, rent, and mission costs—are covered by the interest earned from these loans and fees collected for implementing grants. After accounting for these expenses, part of the net positive result is returned to the French government, with the remainder reinvested into AFD's equity to support its banking activities.

Further reading:  How AFD Ensures that its Financing Reaches the Final Beneficiaries