AFD CEO, Jean-Michel Severino, in South Africa

Jean-Michel Severino, AFD’s Chief Executive Officer, was in South Africa (Johannesburg and Cape Town) on November 23rd to 27th, 2009.

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This visit underlined the spread of AFD’s cooperation actions and parterships built since 1994 and reflected the diversity of AFD’s developmental approaches and its innovative vision of the role of a Development Financing Institution in today’s world.

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The visit included the signing of four funding agreements for a total of 320 million euros, symbolising the three main pillars of intervention of AFD in South Africa :

- Giving previously disavantaged people access to essential services (funding to National Housing Finance Corporation to finance affordable housing) through municipalities (credit line to DBSA)

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- Supporting economic growth, via important infrastructure programme within the contra cyclic role of AFD (loan to Transnet for the extension of Cape Town port)

- Encouraging the preservation of Public Goods and the fight against climate change (funding of a research programme on Carbon Capture and Storage, implemented by the Department of Energy via the Central Energy Fund)

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Furthermore, a grant agreement was signed with the Desmond Tutu HIV Foundation, in line with the committment made by President Sarkozy during his visit to South Africa in 2008.

REDNHFC (3)

Jean-Michel Severino has also met with partners of Proparco : CAPITEC Bank and the first African rating agency, Global Credit Rating.
He also had a tour of the extension of O.R. Tambo airport which has been partially financed by AFD through a loan to ACSA.

Last, but not least, Jean-Michel Severino met with the Minister of Finance, Mr Pravin Gordhan, and the Deputy Minister of International Relation and Cooperation, Ms. Susan Van Der Merwe.

publie le 18/01/2010

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