PRESS RELEASE

Visit To Ghana Of Yves Boudot, Head Of Africa Department Of Agence Francaise De Developpement (AFD)

25H – 27H JUNE 2013

Mr Yves BOUDOT, the Head of Africa Department at AFD’s Headquarters in Paris, visited Ghana from 25th to 27th June 2013. During his visit, Yves BOUDOT had the opportunity to discuss ongoing and future AFD activities in Ghana with Hon. Emmanuel Buah, Minister of Energy and Petroleum, Hon. Akwasi Oppong-Fosu, Minister of Local Governments and Rural Development and Cassiel Ato Colson, Deputy Minister of Finance.

Since agriculture, energy and urban development/support to local Governments are the three sectors of concentration of France in Ghana, in accordance with the Partnership Framework Document signed on May 28, 2013 in Paris during President Mahama's official visit in France, discussions focussed on how AFD could better support Ghana in the implementation of its development strategy, particularly in supporting the Public-Private Partnerships that Ghana is preparing in various sectors such as transport, energy and water sectors.

Mr BOUDOT also recalled the possibility for AFD to lend directly to public companies (example of the on going loans to GRIDCo and ADB-Agricultural Development Bank) when they are financially sustainable and more generally, he explained the wide range of financial instruments that AFD is able to develop, including the loans to the Government, the loans to the private companies via Proparco, AFD's subsidiary dedicated to the financing of the private sector and the risk-sharing guarantee mechanism called ARIZ to facilitate the loans by local banks to SMEs.

Mr BOUDOT also visited the Kpong dam whose retrofit is financed by AFD and the Akosombo dam, pillar of the power supply of the country.

Ghana has become one of the main beneficiaries of AFD Group’s commitments in West Africa since 2004, date of Ghana’s achievement of the HIPC Initiative completion point. On a cumulative basis, total commitments of the Group since 2004 amount to €790 million, among which € 698 million are loans, € 83 million are grants (including the Debt Reduction and Development Contract which converts debts from French Official Development Assistance into grants) and €9 million guarantees.

In 2011, the total commitments amounted was €250 millions and in 2012, €156 millions, including a rural water and sanitation programme in four Regions, the second phase of AFD's participation in the District Development facility, the extension of roads and drainage infrastructure in Kumasi, the participation of AFD's Group to the financing of the 3rd turbine of the Takoradi 2 power plant and long term credit facilities to local banks.

Mr BOUDOT also seized the opportunity of his visit to award two members of staff of AFD Accra with long service certificates, for 20 years of service each.

ABOUT

Agence Française de Développement (AFD) is a public development finance institution that has been working to fight poverty and foster economic growth in developing countries and the French Overseas Communities for seventy years. It executes policies defined by the French Government.

http://www.afd.fr or www.afd-ghana.org Media Contact: Dorcas Dare Nutakor Email: nutakord@afd.fr Tel.: 0302 77 87 55