France

France’s policy for development and international solidarity is implemented by the Agence Française de Développement (AFD) Group. The Group includes AFD, which is the main agency responsible for France’s official development aid; Proparco, which is dedicated to private sector financing; and Expertise France, the technical cooperation agency.

France’s support to Asia focuses on, among other things, climate change, natural resource management and biodiversity (particularly ocean and forest protection), social development, and private sector mobilization. Other focus areas are the fight against inequalities, regional cooperation and integration, contribution to the Sustainable Development Goals, and working with partners or coalitions of various stakeholders. This support is provided in countries of mutual interest to ADB and the AFD. The AFD has released the Southeast Asia Regional Strategy Paper 2020–2024, which focuses on encouraging transitions toward low-carbon trajectories and the resilience of territories, supporting the preservation and sustainable management of terrestrial and marine environments, mitigating social imbalances, and reducing inequalities.

The ASEAN Catalytic Green Finance Facility (ACGF)—an initiative of the ASEAN Infrastructure Fund—was launched in April 2019 to accelerate green infrastructure investments in Southeast Asia. It supports governments in Southeast Asia to prepare and finance infrastructure projects that promote environmental sustainability and contribute to climate change goals. The AFD committed €150 million towards the initiative.

In December 2023, ADB launched a Nature Solutions Finance Hub for Asia and the Pacific at COP28. The hub aims to attract at least $2 billion into investment programs that incorporate nature-based solutions, particularly focused on capital markets and other sources of private capital. The AFD expressed interest in supporting the hub and joined the launch.

Highlights of ADB–France Engagement in 2023:

Sovereign Cofinancing. In 2023, the AFD committed $413.4 million in project-specific cofinancing, of which $404.8 million is loan cofinancing. It committed $200 million to support improving urban governance and services in 88 pourashavas (municipalities) of Bangladesh from fiscal year 2024 to 2028, which is expected to benefit 7.6 million people.

Nonsovereign Cofinancing. The Trade and Supply Chain Finance Program (TSCFP) supported over 360 transactions valued at $2.1 billion with banks domiciled in France from inception to December 2023. During the same period, the TSCFP supported over 270 French exports and/or imports valued at $226.8 million. In 2023 alone, the TSCFP supported 7 transactions valued at $7.6 million with banks domiciled in France and supported 21 French exports and/or imports valued at $18.1 million. Exports and/or imports were mainly to or from Viet Nam, Bangladesh, and Pakistan. Underlying goods involved mostly food and agriculture-related goods, industrial machinery and capital goods, as well as raw and non-energy commodities.

Special Funds. France contributes to ADB special funds. Since becoming a member in 1970, France has committed $1.5 billion to special funds, mostly for the Asian Development Fund (ADF). The ADF provides grants to ADB’s low-income, developing member countries to help reduce poverty and improve quality of life.

Knowledge. In November 2023, ADB met with a high-level French business delegation in Kazakhstan to present an overview of ADB’s country strategy and operations. The parties also discussed the country’s development priorities, investment climate, and opportunities for mutual collaboration.

In December 2023, at a side event of the UNFCCC Climate Change Conference (COP28), ADB and partners announced the Nature Solutions Finance Hub to scale up the flow of public and private finance into conserving nature and biodiversity loss in Asia and the Pacific. The chief executive officer of Agence Française de Développement, Remy Rioux, talked about scaling up public and private capital into nature-based solutions. France’s environmental ambassador, Sylvie Lemmet, discussed the French perspectives on supporting nature and biodiversity.