Covid-19 is a public health emergency with worldwide impact. On March 12 and March 16, the French President addressed the nation, asking citizens and businesses to limit their travel as much as possible.
These are difficult circumstances for all, and AFD Group has adapted its human resource and operational systems accordingly. As of Monday, March 16, remote working is mandatory for all staff whose physical presence is not essential at its offices in mainland France and French overseas departments. And from Friday, March 13, all AFD-related travel across international borders has been canceled.
In view of these working conditions in France and across the network of AFD offices abroad, we recommend that all our partners, clients, and service providers use electronic means of communication so that our teams can provide you with a response as quickly as possible.
The Group’s staff are in contact with French embassies in the 85 countries where we operate, as well as with local authorities. We remain committed to the design and implementation of solutions with our clients and partners, which will enable them to overcome this crisis and continue to pursue their development trajectory.
In collaboration with France’s Ministry for Europe and Foreign Affairs and the Ministry of Economy and Finance, AFD Group is studying the immediate support that could be provided to the health systems of the most fragile states and, beyond that, the counter-cyclical responses that will be needed to minimize the resulting economic shock. Support for French civil society organizations and their partners is also being considered.
Reflecting France’s commitment to international solidarity and cooperation, AFD Group will be mobilized in line with France’s determination to promote development assistance and the fulfillment of the Sustainable Development Goals.
Development finance institutions' joint press release:
Development finance institutions join forces to help alleviate impact of COVID-19 in developing countries
The Development Finance Institutions (DFIs) of 16 OECD countries, grouped under the DFI Alliance, issued a joint statement where they commit to find solutions that will reduce the impact of COVID-19 in developing countries, especially on essential business activities, and help in the recovery. The group will work collaboratively to identify mechanisms designed to bring liquidity to the market, sustain companies, return them to full production, and restore employment opportunities.
2X Challenge and Gender Finance Collaborative response to the COVID-19 pandemic
Why women and girls should be central to response mechanisms
The COVID-19 pandemic is disrupting global health, economic and financial systems at remarkable speed. Emerging markets are expected to be especially hard hit by the qapandemic and its aftermath, and development finance institutions (DFIs) are coming together to identify common solutions to help the private sector in these markets weather the crisis.
As DFI-led initiatives with expertise in gender lens investing, the 2X Challenge and the Gender Finance Collaborative (GFC) stress that the COVID-19 pandemic has and will continue to disproportionately affect women and girls, and our response to it should take these differences into account. We are therefore calling for a gender-sensitive response to the crisis by investors, including our peer DFIs, by providing a set of practical recommendations to incorporate in to COVID-19 relief strategies.
IFC, a member of the World Bank Group, and Proparco have agreed to collaborate more closely to create markets, mobilize private sector investment, and support economic recovery in developing countries in the wake of the COVID-19 global crisis.
Seeking to address the need for increased collective action among development finance institutions, the Joint Collaboration Framework Agreement (JCFA) will help leverage the partners’ collective strengths to deliver needed development impact in some of the world’s most challenging settings.
Scaling up cooperation among Development Finance Institutions in response to COVID-19
Today, we are facing a health and economic crisis unprecedented in its size and complexity – affecting both supply and demand, developed and developing countries – and disrupting markets, trade, investment-led growth and job creation. The IMF anticipates a global economic contraction of 3% while the World Bank foresees a 35% decrease in FDI flows to developing countries due to the impact of COVID-19.