PROPARCO celebrates its 30th anniversary and tripling of its capital
The 23 May 2008 Board of Directors meeting took note of PROPARCO’s successful €300M capital increase. PROPARCO’s share capital has tripled and now stands at €420M.
The majority of the capital increase was subscribed to by partners outside AFD Group. This underscores PROPARCO’s unique and atypical governance which gathers private and public shareholders working for development from both the North and the South. French, African, Mediterranean and European financial institutions joined private entrepreneurs and Agence Française de Développement (AFD) to subscribe to this capital increase. Such institutions included, amongst others, CDC Entreprises, Caisse d’Epargne Groups, Crédit Agricole SA, Banque Populaire, Natixis, Coface, BNP Paribas as well as South Africa’s DBSA, DEG and Morocco’s BMCE Bank.
This successful capital increase highlights the interest of PROPARCO’s economic model which focuses on sustainable investment in South countries. It will enable PROPARCO to commit some four billion euros in South countries in five years, including 65% in Africa.
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