Health in Guadeloupe, eco-citizen investments in New Caledonia, support for microfinance activities, AFD pledges a total of 41 million euros for Overseas France at its 22 January 2009 Board of Directors meeting.

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 Directors.

The following decisions were taken during the proceedings of the 21 January Overseas France Committee meeting and the 22 January Board of Directors meeting:

Guadeloupe: reconstruction of the Raizet Gerontological Center (CGR)

AFD approved the allocation of a 20 million euro loan to CGR to rebuild and raise the capacity of the Center.

CGR is the main public establishment for elderly patient management and the only hospital center in Guadeloupe to be specialized in this field. The hospital suffers from a lack of space on-site and from the dilapidated state of its buildings and facilities. The latter no longer comply with safety and paraseismic standards and patients consequently do not benefit from quality accommodation.

CGR is the only hospital in a position to modernize, diversify and increase healthcare delivery and needs to be rebuilt. It will subsequently be possible to provide a complete gerontology service with extensive patient management that meets high-quality environmental norms.

New Caledonia: bank loans to businesses for eco-citizen investments

AFD approved the allocation of a total of 15 million euros to Caledonian banks. The financing is earmarked for loans to local SMEs wanting to invest in environmental protection and energy efficiency and falls within the framework of the Environment and Energy Management Loans (EEML) mechanism.

The public authorities are developing a regulatory framework to protect the environment in New Caledonia where the natural heritage is of great value. It is, however, fragile and suffers from human activity and the effects of demographic and economic growth on the territory. These actions will be supported by a technical and financial mechanism that will give incentives to all economic actors wanting to upgrade and comply with standards or to undertake environmental preservation or energy management processes.

The EEML mechanism proposed to Caledonian businesses is based on (i) the allocation of bank loans with subsidized rates to finance eco-citizen investments with resources provided by AFD and (ii) technical support for project preparation provided by a support unit and Consular Chambers. Around a hundred projects should benefit from AFD’s first triannual envelope.

Microfinance in Overseas France: support for ADIE’s activity

AFD approved the allocation of a 6 million euro loan to ADIE, the Association for the Right to Economic Initiatives, to support its activity in France’s Overseas Local Authorities for the period 2009 – 2011.

ADIE is a non-profit making association set up in 1989 to help persons excluded from the labour market and classic banking system to create or develop their businesses via microfinance. Since it was set up some 53 500 businesses and 64 200 jobs have been created thanks to the 63 800 loans that ADIE has allocated.

Agence Française de Développement (AFD) is a public establishment with a mission of general interest: financing for development. It finances projects to reduce poverty, support economic growth and preserve the environment on the five continents and in France’s Overseas Local Authorities. These projects can be led by local public authorities, public companies, the private sector or associations. Last year Group commitments (AFD and Proparco its subsidiary specialized in financing and promoting the private sector) totaled 771.3 million euros in Overseas France (out of a total of 3.5 billion euros) and were allocated to its three intervention areas: support for public policies, SME financing and promoting sustainable development.

Press relations
AFD
Laure Weisgerber, weisgerberl@afd.fr - Tel.: 01.53.44.30.57
Anne-Sophie Morizot (Hopscotch), asmorizot@hopscotch.fr – Tel.: 01.58.65.00.88