AFD - 2018 Registration document

CONSOLIDATED FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH IFRS ACCOUNTING PRINCIPLES ADOPTED BY THE EUROPEAN UNION Notes to the consolidated financial statements

6.2.7 Additional information 6.2.7.1 Investments inmanaged funds

AFD has interests in 28 companies via a number of managed funds (Cidom, FAC, Fides and Fidom) or via funds contributed by the French State. These holdings, recorded at cost, do not appear on the balance sheet. These holdings, which were subscribed to on behalf of the French State with public funds made available to AFD, are not included in ownership or control percentages and are therefore not consolidated in the financial statements.

Number of equity

Fund source

stakes Purchase price

Caisse d’Investissement des DOM (CIDOM)

3 5

1,330

Fonds d’Investissement & de Développement Économique et Social (FIDES)

642

Fonds d’Investissement des DOM (FIDOM)

12

1,526

Other Government resources

6

18,344 21,842

TOTAL

26

6.2.7.2 IMF balance sheet

31/12/2017

31/12/2018

In thousands of euros

Assets Loans and receivables due from credit institutions

1,434,536

1,435,002

Demand

815,320 619,216

532,746 902,255

Term

Accruals

52,496

57,091

TOTAL ASSETS

1,487,032

1,492,093

Liabilities Debt securities in issue

1,481,064 1,434,000

1,481,064 1,434,000

Bonds

6

Of which accrued interest

47,064

47,064 11,029

Accruals and other miscellaneous liabilities

5,969

TOTAL LIABILITIES

1,487,032

1,492,093

Loans granted to the International Monetary Fund (IMF) for the Poverty Reduction and Growth Facility (PRGF), financed by bonded debt issued by AFD and supplemented by hedging instruments concluded with different banking counterparties, are provided on behalf and at the risk of the French government.

With the exception of management fees totalling €0.2M, the IMF loans have no impact on AFD Group’s financial position. Commitments given to the IMF are restated from the consolidated financial statements.

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REGISTRATION DOCUMENT 2018