AFD Ends 2010 with Massive Development Finance Pledges

The Itaipu dam on the Brazil-Paraguay border is the world's largest hydroelectric plant. The French Development Agency has committed euro200 million (USD262.9 million) to refinance loans backing green and inclusive growth in Latin America. Photo by: Kevin Jones / CC BY Kevin JonesCC BY

The board of directors of the French Development Agency, or AFD, concluded their final meeting for 2010 with the approval of some euro1.7 billion (USD2.2 billion) worth of development projects.

Among the biggest initiatives approved are a euro300 million loan to help finance Mexico’s efforts to combat climate change, a euro150 million loan for the expansion of Tunisia’s natural gas network and a euro200 million credit to a Latin American multilateral institution. This loan will be used to refinance loans supporting green and inclusive growth in the region.

Other financing approved by the AFD directors on their Dec. 16 meeting in Paris include:

-euro70 million loan and euro700,000 grant for the construction of a new international airport in Senegal.-euro53.14 million loan for the rehabilitation of the Zambian section of the Nacala road corridor.-euro80.5 million assistance package to help the Egyptian government refinance its loans to small businesses.-euro20 million loan to support power sector reforms in Mauritania.-euro15 million for agricultural development in the Office du Niger area in Mali. -euro35 million loan to help Egypt improve plot irrigation around the Nile Delta.-euro10 million grant to the Palestinian Authority to help boost water and sanitation services in Bethlehem.

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    Ivy Mungcal

    As senior staff writer, Ivy Mungcal contributes to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.