History and statutes
PROPARCO: 30 years of experiency
During the period of over twenty-years since its creation, PROPARCO has progressively diversified its shareholder structure, the regions in which it operates and the financial instruments which it employs.
- 1977 : Creation of a specialist private-sector financing structure – Société de Promotion et de Participation pour la Coopération Economique (PROPARCO) – by the Caisse Centrale de Coopération Economique, now known as the Agence Française de Développement.
- 1988 : Private French operators (banks and other private operators with activity based mainly in Sub-Saharan Africa) acquire shares in PROPARCO.
- 1991 : PROPARCO obtains “financial company” status and, in addition to carrying out equity-based transactions, may now also extend medium and long term loans and provide guarantees. It may also act as a consultant in structuring transactions (strategy consulting, business relationship introductions, project evaluation, etc.).
- 1993 : PROPARCO’s share capital is increased to €68.61 M.
- 1996 : PROPARCO extends its sphere of activity to ACP (Africa, the Caribbean and Pacific) countries, the Maghreb, Cambodia, Laos and Vietnam.
- 2000 : PROPARCO’s share capital is increased to €72 M.
- 2001 :
- Signing of cooperation agreements between PROPARCO, MIGA and Coface, defining each of the three organisations' respective roles in dealing with small and medium-sized companies, infrastructure and mining projects and credit institutions,
- PROPARCO doubles its share capital to €142.6 M, providing an opportunity for shareholders from the South to acquire an equity stake.
- 2002 : Launch of AVERROES FINANCE, the first “fund of funds” in the Mediterranean basin, co-managed by teams from PROPARCO and CDC PME.
- 2003 :
- DEG (Deutsche Investitions- und Entwicklungsgesellschaft) becomes a shareholder of PROPARCO, acquiring a 1% stake,
- Involvement is extended to additional territories: China, Thailand, Turkey, Jordan and Egypt.
- 2004 :
- Signing of an establishment agreement in Jordan and the opening of the Bangkok office in October,
- Creation of a department for equity shareholdings in September.
- 2005 :
- Increase in activities in French Overseas Territories,
- Activity intensifies in Eastern Asia
- 2006: Activities extended to Brazil, India and Pakistan
- 2007: Offices opened in Lagos and Sao Paolo
- 2008: PROPARCO triples its share capital to €420 M
- 2009: PROPARCO extended its business area to all countries eligible for official development assistance as defined by the OECD. PROPARCO is now active in Africa, the Mediterranean, Asia, Eastern Europe and Latin America.
- 2010: Offices opened in Abidjan and Cairo