AFD operates in France’s Overseas local authorities in its traditional capacity as a financial institution when financing requests are made by the relevant authorities. The guidelines for AFD’s general policy are defined in close cooperation with the French Secretariat for Overseas France, which is one of the State representatives on AFD’s Overseas France Committee and Board of Director.
The following decisions were taken during the proceedings of the 2 April 2009 Board of Directors meeting:

>> French Overseas Departments and Local Authorities: extending bank guarantee mechanisms

AFD approved guarantee coverage - for the duration of the recovery plan until the end of 2009 - for the short-term confirmed lines of credit (LCCCTs) allocated by banks to firms located in the Overseas Departments, in the local authorities of Saint-Martin and Saint-Barthélemy and in the Pacific local authorities of Mayotte and Saint Pierre & Miquelon.

These mechanisms will allow AFD to manage the deployment of the SME recovery plan in the whole of Overseas France. In the Overseas Departments, the mechanisms are included in the CO.RAIL plan announced by Yves JEGO, Secretary of State for Overseas France, on 23 March 2009.

>> Guadeloupe: urban development in Port Louis

AFD approved the allocation of a 6 million euro loan to SEMAG - a semi-public company in charge of land use planning in Guadeloupe - to finance treasury requirements for the operation to develop the Rodrigue ZAC (comprehensive development area) in Port Louis.

SEMAG’s main activities concern land use planning and real estate management in Guadeloupe. The city of Port Louis is the concessionaire of the Rodrigue ZAC and entrusted SEMAG with the development of the ZAC, which comprises a landscape garden, the development of a hotel activity and the construction of various types of housing (roughly 350 housing units in small blocks with shops and activities). This financing will bridge the time lag between development expenditure and the receipt of revenues for the concession.

The attractiveness of the sector will be enhanced by the creation of a tourism hub which will both create employment in Port Louis and respect this natural site.

Press Relations
AFD
Laure Weisgerber, weisgerberl@afd.fr

Tel.: 33 1.53.44.30.57

Anne-Sophie Morizot (Hopscotch), asmorizot@hopscotch.fr

Tel.: 33 1.58.65.00.88

Agence Française de Développement (AFD) has been combating poverty and promoting development in South countries and Overseas France for over 60 years and implements the development policy defined by the French Government.
AFD is active in the field in over 50 countries and finances and supports projects to improve living conditions for populations, boost economic growth and protect the planet: getting children into school, supporting farmers and small companies, providing water supply, preserving tropical forests, combating climate change…
In 2008, AFD earmarked some 4.5 billion euros to finance operations in South countries and Overseas France. Thanks to this financing 7 million children were able to go to school, 4.4 million people gained access to water supply and 370 000 jobs were supported in the productive sector. Energy efficiency projects for the same year will save 3.3 million tons of CO2 annually.
www.afd.fr

AFD Overseas annual report

AFD further pursued its growth in 2007 with 3.5 million euros of commitments. One billion euros were allocated in Sub-Saharan Africa which remains a priority for AFD. Other highlights in 2007 include a diversification in partnerships and half of financings now allocated to non-State stakeholders (local authorities, NGOs, enterprises…). <Press release><Press conference presentation><2007 annual report>

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