AFD Group Celebrates 10 Years of Impactful Development Partnership in Bangladesh, with €1.8 billion Towards Nation’s Progress and Resilience

Dhaka, April 25, 2024: Agence Française de Développement (AFD) Group, which includes AFD, Proparco and Expertise France, proudly commemorates a decade of transformative collaboration with Bangladesh, marking a significant milestone in its journey towards fostering sustainable development and international solidarity.

Since it settled in Bangladesh in 2012, AFD Group has committed over €1.8 billion towards advancing various sectors critical to Bangladesh's growth, contributing to the nation's progress and resilience.

At the end of his 4-year term leading the AFD Dhaka office, AFD Bangladesh Country Director Benoit Chassatte said: "Looking ahead, AFD Group reaffirms its commitment to Bangladesh's development agenda, focused on supporting the nation in fighting climate change impacts and graduating from the Least Developed Country (LDC) status. Through strategic objectives, AFD Group continues to finance structural measures, to support climate-friendly institutional governance, to foster social engineering, and to participate in the just and environmental transition. Additionally, throughout all of our projects, for which we ensure a comprehensive and participatory approach, we promote gender equality and indirectly create job opportunities"

The breakdown of AFD Group's investments in Bangladesh underscores its multifaceted approach, with significant allocations to the following key sectors:

• Water and Sanitation: €472 M ;
• Green and Inclusive Finance: €414 M ;
• Health and Social Protection: €351 M ;
• Power and Energy: €242 M ;
• Urban Development: €185 M ;
• Transport: €106 M ;
• Textile/RMG: €49.1 M ;
• Telecommunications: €22.5 M ;
• Additionally, French and local NGOs received a total funding of €4 M.

These investments translate into tangible impacts, with millions gaining access to essential services such as drinking water, electricity, and improved public transport systems, while also benefiting from enhanced working conditions. "AFD Group's strategic markers in the South Asia region reflect a commitment to diversity and sustainability, with a portfolio exceeding €7 billion dedicated to initiatives spanning urban mobility, clean energy, water and sanitation, sustainable banking, health, biodiversity, financial inclusion, and innovation. This steadfast commitment underscores AFD Group's dedication to addressing pressing challenges and promoting inclusive growth in Bangladesh," says Yazid Bensaid, AFD Regional Director for South Asia.

Notably, Proparco's support for private players investing in the region exceeds USD 143 million, leveraging over USD 1 billion in investments. "Gender equality stands as a cross-cutting pillar in AFD Group's endeavors, with a pro-gender approach integrated throughout the project cycle. Projects qualified under the "2X Challenge" for Proparco, to further amplify the impact of gender mainstreaming efforts," says Diane Jegam, Regional Director for Proparco .

Additionally, with nine experts working with established organizations in the region, among them one in Bangladesh, Expertise France is now looking to expand its capabilities to specific sectors in the country.

Furthermore, AFD Group remains resolute to assist Bangladesh's climate action, with a minimum of 70% of annual commitments delivering climate co-benefits and supporting low-carbon, resilient trajectories. It looks forward to enhancing its support on adaptation to climate change, in order to implement the upcoming France-Bangladesh Adaptation Pact.

"Through collaboration with stakeholders across government, civil society, and the private sector, AFD Group has built a trusted relationship with Bangladesh within just a decade. Between 2019 and 2023, France has tripled AFD's commitments, in order to tackle simultaneously poverty reduction and climate resilience. As announced by French President during his historical visit to Dhaka last September, AFD's activities in Bangladesh will remain at a high-intensity, in particular to channel the €1 billion pledge to adaptation under the Pact that will be endorsed this year by both leaders," says H.E. Marie Masdupuy, the Ambassador of France to Bangladesh.