AFD_REGISTRATION_DOCUMENT_2017

CONSOLIDATED FINANCIAL STATEMENTS PREPARED IN ACCORDANCE WITH IFRS 6 Statutory auditors’ special report on regulated agreements and commitments

The period of eligibility for expenses related to the project is set from 1 April 2016, or the project’s effective start date, to 31 March 2018, corresponding to the project’s closing date. By the latter date, all of the expenses related to the project must have been paid out. The deadline for dispersing funds is set at 31 September 2017. This agreement received prior approval by AFD’s Board of Directors on 16 June 2016. At 31 December 2017, AFD had paid €463,000. WITH THE SOCIÉTÉ DE GESTION DES FONDS DE GARANTIES D’OUTRE-MER (SOGEFOM) Service Agreement On 15 March 2004, AFD and SOGEFOM signed a service agreement effective retroactively to 28 August 2003. Under this agreement, AFD provides management, representation and technical support services to SOGEFOM. AFD was paid a fee of €1,655K under this agreement in 2017. WITH THE SOCIÉTÉ DE DÉVELOPPEMENT RÉGIONAL ANTILLES-GUYANE (SODERAG) Cessation of interest on advances to shareholder current accounts In 1997, 1998 and 1999, AFD granted SODERAG interest-bearing current account advances in the amount of €47M. These advances were intended to reinforce SODERAG’s capital. Because of SODERAG’s irremediably compromised position since it went into voluntary liquidation in 1998, and given AFD’s status as sole shareholder, on 5 July 2001 AFD’s Supervisory Board authorised the cessation of interest on all of its shareholder current account advances. Provision of non-interest bearing shareholder advances to SODERAG Between 1999 and 2005, AFD provided its subsidiary with additional non-interest-bearing current account advances to SODERAG so that its liquidation could continue. At 31 December 2017, SODERAG’S debt to AFD under agreements signed between 1997 and 2005 totalled €106,346K. WITH THE SOCIÉTÉ DE CRÉDIT POUR LE DÉVELOPPEMENT DE LA MARTINIQUE (SODEMA), SOCIÉTÉ DE CRÉDIT POUR LE DÉVELOPPEMENT DE LA GUADELOUPE (SODEGA) AND SOCIÉTÉ FINANCIÈRE POUR LE DÉVELOPPEMENT ÉCONOMIQUE DE LA GUYANE (SOFIDEG) Agreements relating to the refinancing and guaranteeing of the customer loan portfolios taken over from SODERAG by the three SDCs (departmental credit companies) Under the terms of the protocol agreements signed in October and November 1998 between AFD, SODERAG and the three SDCs (SODEMA, SOFIDEG and SODEGA), the SDCs acquired the portion of SODERAG’S customer loan portfolio relating to their department, as SODERAG was in liquidation. In September and October 2000, three additional protocol agreements were signed with the three departmental credit companies, setting out the terms for managing the portfolio of loans from SODERAG. At 31 December 2017, outstanding loans in AFD’s books amounted to €10,128K for SODEMA, €18,078K for SODEGA and €856K for SOFIDEG. Two thirds of the interest and early repayment charges received by the SDCs from customer loans are paid to AFD. The loans’ principal is repaid by the SDCs to AFD to the extent that it is repaid by customers, bearing in mind that the total repayment is limited to the acquisition value of the loans.

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REGISTRATION DOCUMENT 2017

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