What does AFD mean in PLANNING
AFD stands for Agence Française de Développement (in English, French Development Agency). It is a public sector financial institution that works to promote sustainable economic and social development in its partner countries in Africa, the Caribbean, the Pacific, South Asia, the Middle East and Eastern Europe. This agency is part of the French Ministry of Foreign Affairs and International Development and its mission is to reduce global inequalities by financing projects supporting access to energy, healthcare, education, employment and environmental protection and sustainability. Additionally, AFD works with international organisations to enhance cooperation between France and developing countries.
AFD meaning in Planning in Governmental
AFD mostly used in an acronym Planning in Category Governmental that means Agence française de développement (in French) French Development Agency
Shorthand: AFD,
Full Form: Agence française de développement (in French) French Development Agency
For more information of "Agence française de développement (in French) French Development Agency", see the section below.
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History
AFD was created in 1941 as a non-governmental development bank called "Seïtô", named after an ancient Japanese word which means “contribution”. In 1945 it became a public institution under the name Coface— Compagnie Française d'Assurance pour le Commerce Extérieur — before being transformed into Agence française de développement in 1966. The organisation has since been instrumental in promoting French economic growth abroad through its support of major infrastructure projects throughout Africa, Asia, Latin America and Europe.
Funding Resources
AFD's funding resources are primarily direct loans from the French government (budgetary allocations) and from international financing institutions such as the European Investment Bank (EIB), European Commission — Development Cooperation Instrument (DCI) funds , International Fund for Agricultural Development (IFAD), or World Bank & African Development Bank Group loans. Additionally AFD provides grants for technical assistance programmes through bilateral agreements with a number of governments around the world. These funds help fund both small-scale local initiatives as well as large scale infrastructure projects.
Objectives
The primary objectives of AFD are to support sustainable economic growth in its partner countries by addressing poverty reduction targets through access to basic services like education, health care or adequate housing; promoting green investments aimed at reducing environmental pollution; fostering job creation activities to boost local economies; supporting decentralised actions focused on agriculture or agro-industry; aiding local development projects that focus on training young people; promoting renewable energy sources especially in rural areas; investing in business development activities targeting low-income groups especially women entrepreneurs; favouring inclusive finance practices such as microfinance for small businesses with no access to traditional banking systems ; working towards climate change adaptation actions; ensuring efficient public financial management systems within partner countries which will allow better use of available funds towards their socio-economic goals.
Essential Questions and Answers on Agence française de développement (in French) French Development Agency in "GOVERNMENTAL»PLANNING"
What is the Agence Française de Développement (AFD)?
The Agence Française de Développement (AFD) is a public financial institution that works to reduce poverty and inequality around the world through responsible financing of sustainable projects. AFD provides grants, loans, and technical assistance to developing countries in order to promote economic growth and social progress.
What kind of projects does the AFD support?
The AFD finances projects that promote economic growth and social progress in developing countries, including infrastructure, agriculture, energy access, water sector development, healthcare, education, financial services for small businesses, environmental protection and climate change adaptation.
How can I apply for an AFD grant or loan?
Applications for grants or loans can be made directly to the nearest regional office of the AFD or online via their website. Applicants must submit all relevant documentation along with information on their project in order to be considered for funding.
Is there a minimum amount required for an application?
Yes, there is a minimum amount required for an application which varies depending on the type of assistance being applied for. Grants usually require a minimum of €50,000 while loans typically require at least €1 million.
How long does it take to process an application?
The processing time varies depending on the complexity of the project as well as other factors such as availability of funding and competing applications. Generally speaking however, it takes about six months from initial submission until final decision is made by AFD's Management Committee.
What are some common reasons why applications are rejected?
Common reasons why applications are rejected include failure to meet eligibility criteria; inadequate project planning; insufficient capacity; lack of appropriate monitoring systems; unsustainability of project objectives; inadequate local buy-in or partnership with stakeholders; inadequate financial documentation; and non-compliance with applicable laws.
Are there penalties for late submission or defaulting on repayment terms?
Yes, applicants are expected to adhere strictly to all deadlines stated in their contract with AFD and failure may result in additional charges or disqualification from funding opportunities available through them. Similarly defaulting on repayment terms may result in interest charged at market rate or other forms of penalties as outlined in contracts signed between both parties.
Final Words:
Agence française de développement has been instrumental in helping reduce poverty around the world by providing funding resources for socio-economic developments projects throughout Africa, Asia , Latin America and Europe since 1941 . As part of France's foreign aid strategy , AFD focuses on contributing towards sustainable growth by helping build capacities within partner countries while also responding quickly to unexpected events or disasters such as epidemics outbreaks or natural calamities . Its mission aims not onlyat tackling current issues but also preventing possible future crisis scenarios by promoting strong governance structures through sound fiscal policies.
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