PROPARCO AT
A GLANCE
5.4 €BN
ON THE BALANCE SHEET
PROPARCO, AN INSTITUTION SERVING THE PRIVATE SECTOR AND SUSTAINABLE DEVELOPMENT Proparco – a subsidiary of Agence Française de Développement (AFD) devoted to privatesector funding – has been supporting sustainable economic, social and environmental development for 40 years.
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TARGET COUNTRIES
450+
CLIENTS
Operating in Africa, Asia, Latin America and the Middle East, the institution provides loans, makes equity investments and provides guarantees to help finance and support financial institutions and corporate privatesector projects. Proparco focuses on the key development areas, such as renewable energybased infrastructure, agribusiness, financial institutions, health and education. Through its work, Proparco seeks to strengthen the contribution of private enterprise to the achievement of the Sustainable Development Goals (SDGs) adopted by the international community in 2015. To do so, Proparco supports companies likely to create jobs, supply essential goods and services and, more broadly, help reduce poverty and mitigate climate change.
Moreover, to achieve its aims, Proparco takes a broad-based approach to governance. Alongside majority shareholder AFD, its governing bodies include public- and private-sector financial institutions from France, the rest of Europe, Africa and Latin America. Proparco has a staff of over 200, divided up between Paris and its 11 offices abroad. Proparco can also rely on AFD’s worldwide network of 85 agencies and offices around the world. In addition to providing financing, its role is to promote the emergence of responsible business and financial organizations in developing and emerging economies. Proparco also assists its clients in improving their environmental, social and governance performance. Proparco is one of Europe’s leading development finance institutions, and spearheads a large number of joint programs with its peers.
PROPARCO AT A GLANCE I
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STRATEGY
OUR STRATEGY FOR 2017–2020 SDG
SDG
SDG
SDG
SDG
SDG
SDG
SDG
SDG
SDG
SDG
SDG
JOBS
1.7M direct and indirect jobs support for per year
OUR MISSION
CLIMATE
15M teq CO avoided per year
Strengthen the private sector’s contribution to achievement of the Sustainable Development Goals (SDGs)
₂
2020: €2bn per year
PROPARCO COMMITMENTS
x2
EDUCATION, HEALTHCARE, ENERGY INFRASTRUCTURE
12M people with access to essential goods and services per year
ASSISTANCE TO BUSINESSES
180 companies assisted by proparco on
OUR TOOLS
environmental, social and governance issues
SDG
INNOVATION
Loans
+ Expertise spanning multiple sectors and geographies + Ability to organise complex projects + An international network + Catalyst role (arrangement, syndication, credit facility management) + Effective risk management (credit risk, environmental and social risks, etc.) + Financial strength + Cofinancing arrangements with counterpart institutions (DEG, FMO, IFC, etc.)
45 innovative programmes per year targeting vulnerable population groups
Equity and quasi-equity investments
OUR RESOURCES 2017-2020
Agriculture and agribusiness Banks and financial markets Climate Education Industry
Infrastructure (energy, telecommunications, transport, water and sanitation, etc.) Microfinance Health Tourism
INNOVATION
RESOURCES
Technical assistance
EXPERTISE
Guarantees
CONSOLIDATION
Investment funds
OUR AREAS OF INVOLVEMENT
Stepping up our work in areas of key importance to development
Strengthening our role as providers of expert assistance to our customers
Supporting innovative projects aimed at vulnerable population groups
Mobilizing resources to maximize impact
Innovation
120
Africa
€2.7bn
in financing dedicated to the continent
Climate
€2bn
devoted to programs that move forward the fight against climate change
I PROPARCO AT A GLANCE
IMPACTS
x3
SERVICES
2015: €1.05bn per year
OUR ADDED VALUE
4
CLIENTS
CSR
180
Projects financed over the period
Customers
assisted with improving their environmental and social performance, above all through our technical assistance offer
Additional third-party resources
€1bn
mobilized by Proparco
Fragile States
€1bn
Equity and similar instruments totalling
€1.5bn
dedicated to least advanced, low-income, transition or post-crisis countries
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INVESTMENT POLICY
FINANCING TOOLS
HOW PROPARCO INVESTS
A WIDE RANGE OF FINANCING SOLUTIONS
For Proparco, a “good project” is one that is in line with its mandate and strategic direction, that is led by a sound client and that will have a social and environmental impact on local development.
Proparco provides financing on market terms, in euros, USD or local currency, with the aim of supplementing the activity of local and international commercial banks rather than substituting for them.
Investment conditions and principles
TARGETS
CLIENT RELIABILITY
Proparco supports the development of companies and financial institutions that are active in areas of key importance to development, both local organizations and international companies (particularly French) with operations in developing countries or seeking to develop subsidiaries there.
All financing decisions are based on an in-depth analysis of the various risk factors related to clients and their projects: credit risks, environmental and social risks, etc.
ADDITIONALITY
PROJECT PROFITABILITY
Proparco works to supplement the activity of local and international commercial banks, but without coming into competition with them. Its operations focus on areas where its assistance is most needed and where it has the highest added value, particularly nonfinancial assistance.
Projects cannot last unless they are profitable. Moreover, profitability is critical to the business model of an organization like Proparco, as well as to its ability to win over additional providers of funding.
KNOCK-ON EFFECT
DEVELOPMENT IMPACT
Proparco’s financing aims to demonstrate the economic and financial viability of private enterprise in businesses and/or regions that investors tend to consider too risky. In this sense, Proparco’s operations have a significant knock-on effect.
The contribution that the companies it finances make to local development is central to Proparco’s approach to investment.
MEASURING DEVELOPMENT IMPACT During project appraisal, Proparco uses a tool that is common to several European institutions to assess this contribution and effectively direct its investments: the GPR Corporate-Policy Project Rating methodology devised by its German counterpart DEG, but
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tailored to Proparco’s needs. Four main criteria are examined: • Expected impact on development • Profitability • Level of risk • Fit with Proparco’s strategy.
Enriched with qualitative analysis, these indicators enable ex ante project assessments (forecasting and estimates) as well as the identification of paths to improvement to help Proparco clients enhance their performance.
Proparco offers three types of financing solutions that cover the bulk of the financing needs of the private sector in developing and emerging countries.
LONG-TERM LOANS
Proparco offers companies and financial institutions loans in foreign or local currency (from €3m to €100m) with long maturities (up to 20 years), and a grace period for the repayment of capital where warranted. Such financing is tailored to the environment and needs of clients.
The institution offers comprehensive financing solutions and can syndicate large loan amounts through a variety of mechanisms put in place with its counterparts in Europe (e.g., DEG, FMO) and elsewhere.
EQUITY INVESTING TO BOOST GROWTH
Proparco also uses various equity instruments: • Acquisition of minority interests held directly or indirectly – via financial intermediaries, particularly investment funds – in the capital of companies • Subordinated and participating loans • Shareholder current accounts • green bonds in foreign currencies
As a result, companies get access to the capital that they need to grow their business and hands-on assistance in crafting strategy, improving governance and accessing international business networks.
GUARANTEES TO ENERGIZE FINANCIAL MARKETS
The Proparco signature provides clients with a solvency or liquidity guarantee. Proparco guarantees may take a variety of forms and apply to different kinds of underlying products (e.g., to loans in foreign or local currency, to bonds, to listed UCITS).
In this way, Proparco makes it easier to mobilize resources from banks and institutional investors, and can have considerable impact on financial market liquidity.
27
local currencies in portfolio PROPARCO AT A GLANCE I
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TARGET SECTORS
EXPERTISE IN THE KEY DEVELOPMENT SECTORS
BANKS AND FINANCIAL MARKETS Enterprises, both large and small, are among the key economic growth drivers in the Southern Hemisphere. However, insufficient access to medium- and longterm credit still hinders many of them, above all SMEs. Proparco provides financial institutions with the foreign and local currency funding they need to grow and enhance their ability to finance local businesses. Its support goes to banks, non-banking
In line with AFD’s strategic direction and the priorities of France’s development policy, Proparco focuses its support on key sectors for economic growth, job creation and delivery of essential goods and services to the population.
AGRICULTURE AND AGRIBUSINESS
CLIMATE Its goal is to promote approaches to farming and agribusiness that are more productive, but at the same time more environmentally friendly and more energy-efficient, approaches that increase wealth and create decent jobs. Its financing goes to a wide range of people and organizations, from local growers and farmers to transport and/or logistics companies. The purposes it serves are equally varied:
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financial institutions (for example, institutions specialized in mortgage credit or financing the agricultural sector), as well as insurance and micro-insurance companies. In Sub-Saharan Africa, Proparco offers clients long-term loans and equity financing. In emerging economies, the emphasis is on lines of credit dedicated to specific sectors such as agriculture and renewable energy.
• Structuring value chains in order to facilitate contractual arrangements between small-scale farmers and agribusiness; • Developing processing activities to increase added value in producing countries; • Creating and improving logistics infrastructure; • Disseminating high environmental and social standards; Giving farmers and agribusiness companies access to financing by providing dedicated lines of credit to banks and other financial institutions serving the sector.
The AFD Group today is one of the Development Finance Institutions most committed to the fight against climate change. Like its parent company, Proparco has initiated a bold climate strategy, pledging to have at least 30% of its annual financing produce climate-change co-benefits. Renewable energies and energy efficiency are key components of its strategy. They represent a response to the interrelated challenges of ensuring energy security in developing
countries and promoting green growth that is less dependent on fossil fuels. To meet those challenges, Proparco teamed up with the AFD and its European counterparts to create the Interact Climate Change Facility, a facility that uses their combined resources to finance renewable energy and energy efficiency projects in the private sector. During the last 10 years, Proparco has devoted more than €2bn to climate change mitigation.
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TARGET SECTORS
EDUCATION
MICROFINANCE The acquisition of knowledge and skills – from primary to higher education – is a prerequisite for the social and vocational integration of young people and sustainable economic growth. Public services in developing countries unfortunately tend to be too weak to be able to respond to the challenges at hand. Against this background, the increasing involvement of private-sector organizations working to provide high-quality education contributes to strengthening educational systems in developing countries.
For that reason, Proparco provides the private sector with financing: • To build, extend and equip schools, universities and institutes of technology; • To provide both initial training and work-study opportunities, including apprenticeships and in-service training, to help young people to acquire skills that they can put to effective use, both as citizens and in the labor market.
INFRASTRUCTURE Infrastructure is one of Proparco’s traditional sectors of operation. Efficient infrastructure is critical to delivering essential services to the population, attracting private investment and reinforcing the local economy. Proparco accordingly steps in to help finance: • Large-scale energy projects, often involving conventional sources in the least advanced or post-crisis countries, but otherwise focused on renewable energies
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• The extension of mobile phone networks and the deployment of high-speed internet access infrastructure to help reduce the North-South digital gap • The construction, extension and upgrading of rail, highway, port and airport facilities, which play a crucial role in structuring trade and making local production competitive • Sustainable drinking water management through improved network management, increased water collection and waste water treatment capacity in countries subject to high water stress.
Since microfinance came into being in the 1970s, it has demonstrated not only that financial services tailored to the poorest are useful and necessary, but that they can also be profitable. They allow people who are not eligible for banking services but who wish to start a business, replace farm equipment and the like to access financial services tailored to their needs and to their repayment ability.
Proparco provides technical and financial support for the emergence and development of robust, responsible organizations, from microfinance institutions to banks and funds investing in the microfinance sector. Through loans and equity investments, Proparco helps to strengthen local lending capacity and contributes to the financial soundness and stability of microfinance organizations.
HEALTHCARE Rising life expectancy and the high prevalence of infectious diseases create unprecedented challenges for healthcare systems in developing and emerging economies. To tackle those challenges, a promising approach involves effective cooperation between the public and private sectors to organize healthcare services and sustainably increase their availability. Proparco co-finances high-quality private hospitals, clinics and other healthcare institutions and assists them as they
invest to expand their facilities, equip their various wards and more. Proparco supports the manufacture and distribution of affordable local drugs by financing pharmaceutical laboratories and companies and promoting the South-South transfer of technologies. In some cases, this means directly financing private firms in the sector; in others, working through investment funds and other intermediaries.
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TECHNICAL ASSISTANCE
SUSTAINABLE DEVELOPMENT
PROMOTING A RESPONSIBLE PRIVATE SECTOR IN DEVELOPING COUNTRIES Encouraging the private sector to act responsibly in the developing and emerging countries is an integral part of Proparco’s mission. The institution helps clients improve their environmental and social performance, while contributing more fully to local development.
ENCOURAGING SUSTAINABLE BUSINESS MODELS
For several years, Proparco has been engaged in a formal approach to evaluating and improving its clients’ E&S practice. This ensures that they are committed to controlling the risks attendant on their projects and to improving their E&S performance.
PROMOTING CORPORATE SOCIAL RESPONSIBILITY
Proparco makes sure that its clients – and more broadly the suppliers and subcontractors in their value chain – offer working conditions that comply with international labor standards on such issues as consultation with workers, occupational health and safety and non-discrimination. Whenever infrastructure projects cause population displacement or disrupt existing economic activities, Proparco demands that its clients devise plans for resettling the affected population groups and/or preserving their previous sources of livelihood. Proparco also ensures that the companies it finances have fully operational arrangements for handling complaints from workers or nearby communities.
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LIMITING ECOLOGICAL FOOTPRINT
To Proparco, promoting responsible financing also means encouraging clients to lower their pollution levels, limit their use of natural resources (water and energy in particular) and cut their greenhouse gas emissions. This includes supporting the installation of special equipment to raise the energy efficiency of buildings. To preserve biodiversity, Proparco does its utmost to prevent the destruction of natural environments with high ecological values or, if need be, to ensure compensation for any such destruction. For example, Proparco has made plans to manage biodiversity in affected areas a prerequisite for its support for agribusiness, infrastructure and similar projects.
STRENGTHENING THE CAPABILITIES OF CLIENT COMPANIES Proparco offers technical assistance to itsclients in addition to the funding it provides. These services aim to support the responsible practices and innovative initiatives of the private sector, and thereby strengthen the sustainability of Proparco’s investments and their impact on local development.
YOU NEED...
YOU NEED...
DIVERSIFICATION / INNOVATION
GOVERNANCE To enhance governance at your company in accordance with the standards set by international financial partners: > balance of power, > internal control procedures, > disclosure and transparency.
> To develop new products as part of a drive to diversify and break into new markets. > To introduce innovative production methods and organisational approaches suited to both local and foreign markets.
FOSTERING INCLUSIVE DEVELOPMENT
Proparco pays special attention to ensuring access for local communities to the services provided by its clients. In education for example, this may involve encouraging clients to develop scholarships or study grants for deserving students from modest backgrounds. Moreover, Proparco measures positive spillover from its clients’ business and their contribution to tax revenue.
YOU NEED...
YOU NEED... COMPLIANCE / ENHANCED CAPABILITIES
SOCIAL ENTREPRENEURSHIP [IN AFRICA]
To enhance the capabilities of your staff in areas like:
To launch one or more new products or services to adress the needs of:
> financial or HR management, > compliance with the international standards of your financial partners, > technical, operational and/or marketing efficiency, > implementation of E&S management systems and/or achievement of certification.
> low-income groups, > micro-enterprises, small and medium-sized enterprises, > cooperatives and small farmers...
Proparco can finance them by drawing on: • The technical assistance facility of the Investment and Support Fund for Businesses in Africa (FISEA), held by AFD and advised by Proparco, which is primarily intended to build the capabilities of small and medium-sized enterprises in Sub-Saharan Africa; • The Governance Capacity Building Facility (FRCG), which finances projects to improve environmental, social and governance (ESG) performance within 16 priority countries of the French Cooperation; • Its own resources; • The geographic and thematic funding instruments put in place by the European Commission.
We co-finance studies (e.g. diagnostics, action plans), training and technical assistance services, wether directly or indirectly through investment fund facilities, that are co-financed in euro or dollar. On average, Proparco covers 50% of the total.
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RISK MANAGEMENT
INCLUSION
ONE OF THE MOST DEMANDING SETS OF CONTROL PROCEDURES
FISEA – A FUND FOR AFRICAN BUSINESSES
Proparco’s risk monitoring system is based on: • A set of operational limits for each region and each counterparty • A prudent provisioning methodology • Quarterly portfolio reviews for investments that the Risk Committee has identified as sensitive At the same time, the Assets and Liabilities Management Committee is now responsible for monitoring financial risks (interest rate, exchange rate, liquidity) that could erode Proparco’s profitability or financial strength. Moreover, Proparco benefits from the financial robustness of its AA-rated main shareholder, the AFD. RISK ASSESSMENT DURING THE PROJECT LIFECYCLE
Risk assessment is performed both before and after a project financing decision is made: • Independent opinions are gathered to analyze and assess both credit risks and legal, environmental, social and compliance risks 14
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• The governing bodies examine in detail and openly debate the various risk factors involved; • The project is monitored for as long as it is held in the portfolio, with its risk profile reassessed and debated every six months. ENVIRONMENTAL, SOCIAL AND GOVERNANCE RISK MANAGEMENT
At the identification stage, projects are categorized based on their E&S risk level, which in turn determines the scope of E&S due diligence and the benchmark standards to be applied. Proparco has also been developing a framework for assessing governance at client organizations in which it makes equity investments. Following such assessments, Proparco negotiates potential improvements with clients and spells out the corresponding commitments in contractual documents. Implementation is usually monitored every year.
FINANCIAL SECURITY POLICY
Proparco has developed a set of procedures and contractual provisions to fight corruption, fraud, anti-competitive practices, money laundering and terrorism financing. These measures, which align with the AFD Group’s financial security policy, are designed to prevent, detect, monitor and manage noncompliance risk related to Proparco’s activities and the regions where it operates.
Through the Investment and Support Fund for Businesses in Africa (FISEA), Proparco also makes equity investments in businesses, banks, microfinance institutions and investment funds operating in Sub-Saharan Africa.
SOCIAL BUSINESS Since 2015, FISEA has had a social business compartment that should be seen as a continuation of the AFD’s work to promote microfinance and the Group’s first social business initiatives.
With an investment target of €250m, the fund is one of the key components of France’s policy of promoting growth and jobs in Africa, launched in 2008. Its purpose is to support employment-generating businesses and financial institutions by providing them with equity financing and assistance with investment management.
By supporting highly committed privatesector organizations, the new compartment can contribute to the development of sustainable solutions to problems of social inclusion, accelerate the emergence of innovative projects and partnerships and help to scale up such initiatives by creating leverage and reducing the attendant risks.
Held by the AFD and advised by Proparco, FISEA targets regions that are more unstable or emerging from crisis situations, as well as sectors traditionally bypassed by investors and vulnerable population groups. Special attention is paid to the growth of small and medium-sized businesses.
€250m allocated to FISEA
as of February 29, 2016
Proparco incorporates risk management into every aspect of its operations. It implements a comprehensive risk management system to control credit and financial risks, environmental and social risks, and non-compliance risks.
51
project commitments
€222m invested
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PARTNERSHIP
PARTNERSHIP
GREATER LEVERAGE THROUGH PARTNERSHIP
MOBILIZING EXTERNAL RESOURCES
Proparco cooperates with a wide range of public- and private-sector organizations. Thanks to these partnerships, Proparco can take on larger-scale projects and mobilize greater financial resources.
Accredited as a financial intermediary by the European Union since September 2015 and by the Green Climate Fund since December 2016, Proparco can now mobilize resources from those partners to supplement its own funding.
For several years, Proparco has been scaling up partnerships with other development finance institutions (bilateral/multilateral and regional), its shareholders and private investors. That collaboration and coordination is key to Proparco’s effectiveness and one of the engines of its growth, leading to co-financed operations and the pooling of funds to bring about large-scale projects.
€1.2bn
REAPING THE BENEFITS OF EUROPEAN COOPERATION
PROPARCO, DEG, FMO: GREATER COOPERATION
The Association of European Development Finance Institutions (EDFI) is one of the more striking examples of cooperation between Proparco and its peers. Created in 1992, it encompasses 15 European bilateral institutions dedicated to financing the private sector in the Southern Hemisphere. This close relationship among European institutions has given rise to two co-financing facilities: • European Financing Partners (EFP) dedicated to financing private-sector enterprises in Africa, the Caribbean and the Pacific regions (ACP) • The Interact Climate Change Facility (ICCF) dedicated to financing private-sector renewable energy and energy efficiency projects in developing and emerging economies.
Proparco maintains particularly strong ties to two EDFIs: Germany’s DEG and the Netherlands’ FMO. The three institutions have set up a joint financing facility that enables them to pool their resources and put one of the three partners in charge of examining and monitoring specific projects. This coordinated approach facilitates their involvement with deals with higher amounts.
AGREEMENTS WITH MULTILATERAL INSTITUTIONS AND PROPARCO SHAREHOLDERS
A FIRST PROPARCO/AFD PROJECT SUPPORTED BY THE EUROPEAN UNION.
In October 2009, Proparco signed a cooperation agreement with the International Finance Corporation (IFC), the World Bank’s privatesector financing arm. It aims to facilitate project co-financing arrangements in key development sectors. Proparco has also entered into technical and financial cooperation agreements with other multilateral institutions such as the Development Bank of Southern Africa and the Asian Development Bank, as well as with a number of its own shareholders, for example, Corporación Andina de Fomento and the Aga Khan Fund for Economic Development.
Launched in March 2016 with funding from the European Union, the African Renewable Energy Scale-Up facility is designed to boost private investment in both on-grid and off-grid renewable energy production. By putting in place a highly innovative back-stop facility, the project should give one million African households more secure access to energy and provide the Continent as a whole with additional renewable energy capacity of 50MW. Between five and ten businesses will receive seed funding in the process.
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This partnership-based approach enables Proparco to leverage its financing and to maximize the developmental impact of all projects financed.
mobilized in 2015 and 2016 by Proparco and its German and Dutch peers
FONDS EUROPÉENS
FONDS VERT
Proparco can draw on European investment funds, whether through subsidies or financial instruments, to mitigate risk (e.g., with firstloss guarantees) and put in place technical assistance arrangements in addition to Proparco financing.
Through financing from the Green Climate Fund (FCF), Proparco can assist renewable energy projects with adapting to or mitigating earlystage risk, above all in Africa, and thereby help a greater number of high-quality projects to get off the ground.
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SHAREHOLDER BASE
AFD GROUP
A MIXED SHAREHOLDER BASE
THE AFD – FRANCE’S KEY DEVELOPMENT INSTITUTION
In addition to the AFD, its majority shareholder, the shareholder base spans a broad range of public and private financial organizations – from France, elsewhere in Europe, Latin America and Africa – along with service companies, industrial firms and funds and ethical foundations. Proparco today has some thirty shareholders from a wide variety of backgrounds, which is one of its strengths, particularly because what this community of investors from the North and South shares is a commitment to sustainable development.
SHARE CAPITAL BREAKDOWN (at Dec. 31, 2016)
64.2% AGENCE FRANÇAISE DE DÉVELOPPEMENT
Ever since Proparco first offered shares to outside investors in 1990 and they successively acquired stakes, those shareholders have played a crucial role in the strategic management and good governance of the institution.
21.7% FRENCH FINANCIAL ORGANIZATIONS
• BPCE IOM • CDC Entreprises ELAN PME (Bpifrance) • BNP Paribas • Crédit agricole SA • Société générale
Since it was founded in 1977, Proparco’s share capital has risen from €1.5m to €693m today.
11.8% INTERNATIONAL FINANCIAL ORGANIZATIONS
• Development Bank of Southern Africa (DBSA) • Banque marocaine du commerce extérieur (BMCE) • Corporación Andina de Fomento (CAF) • Aga Khan Fund for Economic Development (AKFED) • DEG • West African Development Bank (WADB) • Bank of Africa Group (BoA Group SA)
1.7% CORPORATES
• ENGIE • Bouygues Group • Bolloré Africa Logistics • Saur International • Somdiaa • SIPH • Socotec International
0.6% FUNDS & ETHICAL FOUNDATIONS
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• Amundi AFD Avenirs durables • Natixis Solidaire • Jean-Pierre Gonon
The benefits of being an AFD subsidiary Proparco benefits from the financial robustness of a shareholder with an excellent credit rating; Proparco can increase its lending capacity with AFD backing; A service agreement ensures AFD support in terms of logistics, internal auditing, human resources, IT and back office; Proparco draws on the expertise of AFD staff in such areas as agriculture, health and education.
The AFD is a public institution that has been instrumental for over 75 years in fighting poverty and encouraging development in the South and the French Overseas Territories. The AFD implements the French government’s development policy. Through its network of 85 agencies and offices around the world – including nine in the French Overseas Territories and one in Brussels – the AFD finances and supports projects that improve living conditions, support economic growth and protect the planet.
€9.4bn
provided by AFD in 2016 to finance projects in developing countries
In 2016, the AFD provided a total of €9,4bn to finance project financing in developing countries and the French Overseas Territories. Those projects cover such fields as education for children, maternal health, promoting gender equality, supporting farmers and small enterprises, increasing access to water, energy and mass transit, and mitigating climate change.
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4
NETWORK
ISTANBUL Turkey and Middle East, Central Asia, Caucasus, Southeast Europe
AN INTERNATIONAL PRESENCE
PARIS PROPARCO Headquarters
Proparco’s work potentially targets all countries eligible for Official Development Assistance. Today the institution operates in over eighty countries spanning four continents, from major emerging markets to the least developed countries.
SANTO DOMINGO Dominican Republic & Haiti
BEIJING China
3
CASABLANCA North Africa
10
NEW DELHI South Asia
1
5
MEXICO Central America and the Carribean
ABIDJAN West Africa
6 9
LAGOS Nigeria
NAIROBI East Africa 7
Our 11 offices and the regions they cover Branch offices
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2
SAO PAULO South America
DOUALA Central Africa
11
BANGKOK North and Southeast Asia
8
JOHANNESBURG Southern Africa and Indian Ocean
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PRIVATE SECTOR & DEVELOPMENT
TEAMS THE PUBLICATION Private Sector & Development (PS&D) is an original quarterly publication that provides analysis and insights into the mechanisms through which the private sector can contribute to the development of countries in the Southern Hemisphere. Each issue presents a variety of opinions and focuses expressed by authors from different backgrounds, working in research, the private sector, development institutions and civil society. Edited by Proparco, each issue includes 7 articles on a single theme. Through the diversity of the topics covered, e.g. housing, mobile telecommunications, financial markets, PS&D has gradually emerged as a benchmark publication on the role of the private sector in developing the Southern Hemisphere.
HEADQUARTERS PARIS
151, rue Saint-Honoré – 75001 Paris Tél.: +33 1 53 44 31 08 – Fax: +33 1 53 44 38 38 E-mail: proparco@proparco.fr
EXECUTIVE TEAM Grégory Clemente
Chief Executive Officer clemente@proparco.fr
Amaury Mulliez
Deputy Chief Executive Officer mullieza@proparco.fr
Hélène Templier
Deputy Chief Executive Officer templierh@proparco.fr
OFFICES
SUB-SAHARAN AFRICA
MEDITERRANEAN AND MIDDLE EAST
ASIA
West Africa
North Africa
North and Southeast Asia
Boulevard François Mitterrand 01 BP 1814 Abidjan, Côte d’Ivoire Tél.: +225 22 40 70 40 proparcoabidjan@proparco.fr
15, avenue Mers-Sultan 20130 Casablanca, Maroc Tél.: +212 522 29 53 97 Fax: +212 522 29 53 98 afdcasablanca@afd.fr
BANGKOK
Exchange Tower, Unit 3501-02, 35th floor 388 Sukhumvit Road, Klongtoey Bangkok 10110, Thailand Tél.: +66 2 663 60 90 Fax: +66 2 663 60 77 afdbangkok@afd.fr
BEIJING
Proparco – French Development Agency Group (China Office) Tél: 010-84511200 ext 610 Email: chenj@afd.fr
South Asia
DELHI
19 A Rajdoot Marg, Chanakya Puri New Delhi – 11021, India Tél.: +91 11 42 79 37 00 Fax: +91 11 42 79 37 01 afdnewdelhi@afd.fr
Available for free in English and French, PS&D today has 45,000 subscribers. Publication Anne-Gaël Chapuis Christelle Thomas Design & publishing
THE BLOG The Private Sector & Development blog was launched as an extension of the PS&D magazine to provide a broader forum for analyzing and discussing the role of the private sector in development. Private business people can make use of this interactive platform to broadcast their ideas and projects and to share their experience.
Photos credits: p.8: Joan Bardeletti/p.9: Baptiste de Ville d’Avray, Joseluis Franco Photography/p.10-11: Eduardo Munoz, Julien Girardot, Oriane Zerah, Ooi Phalinn/p.14: Banque asiatique de développement/p.15: Joan Bardeletti/p.19: Agence Française de Développement
Go to: blog.private-sector-and-development.com This publication comes from sustainably managed forests and certified sources
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ABIDJAN
Central Africa
DOUALA
96, rue Flatters Immeuble Flatters, 2e étage, Suite 201 BP 2283 Douala, Cameroun Tél.: +237 233 42 06 24 proparcodouala@proparco.fr
Southern Africa and Indian Ocean
JOHANNESBURG
Ballywoods Office Park, Ironwood House, 1st floor 29 Ballyclare Drive, Bryanston P.O. Box 130067, Bryanston 2021 South Africa Tél.: +27 11 540 71 00 proparcojohannesbourg@afd.fr
Nigeria
LAGOS
C/o Consulate General of France 1, Oyinkan Abayomi Drive Ikoyi, Lagos, Nigeria Tél.: +234 816 387 8459 afdlagos@afd.fr
East Africa
NAIROBI
Top Plaza, 4th floor Kindaruma Road, Off Ngong Road P.O. BOX 45955 00100 Nairobi, Kenya Tél.: +254 20 271 12 34 Fax: +254 20 259 29 08 afdnairobi@afd.fr
CASABLANCA
Middle East, Central Asia and Caucasus, Eastern Europe
ISTANBUL
Büyükdere Cad. Yapi Kredi Plaza C Blok, Levent, Istanbul Tél.: +902 122 833 111 afdistanbul@afd.fr
LATIN AMERICA AND THE CARIBBEAN Central America and the Caribbean
MEXICO CITY
Torre Omega, piso 5, Campos Eliseos n°345, Col. Chapultepec Polanco, 11560 México D.F., México Tél.: +52 55 5281 1777 afdmexico@afd.fr
SANTO DOMINGO
Av. Gustavo Mejía Ricart esq. Av. Abraham Lincoln, Torre Corporativo 2010, 2do piso, Local 201, Piantini, Santo Domingo República Dominicana Tel: +1 809 20547-1289 viciniv@afd.fr
South America
SÃO PAULO
Edificio Çiragan Office Alameda Ministro Rocha de Azevedo, 38 11° andar, conjunto 1103 01410-000, São Paulo, SP, Brasil Tél.: +55 11 3149-7907 Fax: +55 11 3142-9884 afdsaopaulo@afd.fr
151, rue Saint-HonorÊ — 75001 Paris Tel.: +33 1 53 44 31 08 blog.private-sector-and-development.com www.proparco.fr