In 2012, we consolidated our role as promoter of development and our status as responsible financier of the private sector in the South. To start with, we stepped up our presence in Sub-Saharan Africa, a region all too often bypassed by international investment flows. Africa has always been a primary focus of our work, and it still is. In 2012, half of our financing went to Africa, mainly to support agriculture, banks and infrastructure. That’s almost 40% more than in the previous year. PROPARCO also demonstrated once again its ability to facilitate transitions in countries in or emerging from conflict situations like the Ivory Coast, Egypt, Tunisia and Iraq. Another important development in 2012 was our increasing involvement in the fight against climate change. Over 30% of our new commitments were for renewable energy and energy efficiency projects.

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