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Home / DFI Index / DFI Transparency Index 2023 / Proparco (France)
DFI

DFI Transparency Index 2023

Proparco (France)

Score:
34.5
Position:
8 / 21

Overview

The Promotion and Participation Company for Economic Cooperation (Proparco), is a French development finance institution. It was established in 1977 and ownership is split between the majority shareholder, Agence Francaise de Developpement (AFD) (79.8%), French Financial Institutions (8.2%), International Financial Organisations (10%), French Companies (1.4%), and Investment Funds & Foundations (0.6%). Proparco’s mandate is to foster private investment in emerging and developing economies with the aim of supporting growth and sustainability. It joined the European Development Finance Institutions Association (EDFI) in 1997. 

Analysis

Proparco came eighth from 21 non-sovereign DFIs assessed with a score of 34.5 out of 100. Proparco publishes data in bulk download format but it is not an IATI publisher. It scored well for the Core Information component as a result of its detailed bulk download file hosted on AFD’s data portal. However, Proparco’s overall performance was negatively affected by the fact that it does not disclose its investments to the IATI Standard.  

Proparco came third in the Core Information component with 13.33 out of 20. It scored for sixteen out of the seventeen indicators, only failing to score for status. It scored at least 75% for eleven of the indicators because it had a bulk download available. Proparco was one of three non-sovereign DFIs to score for sub-national location. It lost points for format of publication as a result of not publishing to the IATI Standard. 

Proparco came eleventh in the Impact Management component with a score of 7.5 out of 25. It scored at least 50% for the impact measurement approach, sector/country strategies, and evaluations indicators. However, it did not score for the project-level indicators in this component. 

Proparco came tenth in the ESG and Accountability to Communities component with a score of 10.67 out of 30. It scored 100% for its E&S and project-level grievance (PGM) community disclosure policies. Proparco scored points for its independent accountability mechanism (IAM) but it did not score for a community disclosure policy on this. It did not score for project-level indicators, apart from the disclosure of its IAM on project pages. 

Proparco came sixth in the Financial Information component with 1.75 out of 15. It was one of four non-sovereign DFIs to score for the currency of investment indicator. The only other indicator it scored for was financial reports/statements. 

Proparco came joint second-last in the Financial Intermediary (FI) Sub-investments component with a score of 1.25 out of 10. It did not score for any organisation-level indicators and only scored for the FI (bank) use of funds indicator at the project level. 

Core Information 13.33 / 20
Impact Management 7.5 / 25
ESG & Accountability to Communities 10.67 / 30
Financial Information 1.75 / 15
Financial Intermediary Sub-investments 1.25 / 10

Recommendations

  • Proparco should become an IATI publisher and disclose all investments to the IATI Standard. 
  • Proparco should disclose further Core Information data including status, sub-sector, disbursement data, client contact, date of activity disclosure, approval date, and last update date. It should consistently disclose the total investment cost.  
  • It should disclose project-level Impact Management indicators, including additionality statement, activity indicators/metrics, and results. 
  • It should disclose its evaluations and its approach to determining impact attribution. 
  • Proparco should disclose project-level ESG and Accountability to Communities indicators, including summary of E&S risks and E&S documentation. 
  • It should develop an early disclosure policy covering, at a minimum, high risk projects and disclose investments in line with the policy. 
  • It should create a policy guiding the disclosure of the presence of the IAM at community level. 
  • It should provide assurance of community disclosure for investments when disclosure is required. 
  • For Financial Information indicators it should disclose for repeat investment, concessionality, mobilisation, interest rate, and loan tenor indicators. It should consistently disclose co-financing details and the share of equity. 
  • It should disclose qualifying FI (bank) sub-investments in line with Publish What You Fund’s DFI Transparency Tool and should consistently disclose the FI (bank) use of funds. 
Core Information 13.33 / 20
Impact Management 7.5 / 25
ESG & Accountability to Communities 10.67 / 30
Financial Information 1.75 / 15
Financial Intermediary Sub-investments 1.25 / 10

Deep Dive

Core Information

13.33 / 20
3 / 21
About component

The basic information that describes a DFI’s organisational policies and investments. This type of information is typically found in key organisation documents and represents the first tier of project information, typically disclosed on project web pages or in files available for bulk download. At the organisation level this includes access to information policies and annual reports. At the project level, this includes project titles, locations, and key dates.

Disclosure / access to information policy

Score: 1.5 out of 3

Accessibility

Score: 2 out of 2

Annual reports

Score: 0.75 out of 1

Project identification

Score: 0.75 out of 1

Status

Score: 0 out of 1

Project description

Score: 0.75 out of 1

Location

Score: 0.75 out of 1

Domicile (non-sovereign only)

Score: 1 out of 1

Sovereign / non-sovereign

Score: 1 out of 1

Sector

Score: 0.38 out of 1

Investment instrument

Score: 0.75 out of 1

Project costs

Score: 0.33 out of 1

Funding source

Score: 1 out of 1

Client

Score: 0.75 out of 1

Contacts

Score: 0.38 out of 1

E&S risk category

Score: 1 out of 1

Progress dates

Score: 0.25 out of 1

Impact Management

7.5 / 25
11 / 21
About component

The ways in which a DFI predicts, measures, and evaluates the impacts of their investments. At the organisation level, this includes an impact measurement approach. At the project level, this includes activity indicators/metrics and results.

Impact measurement approach

Score: 3.75 out of 5

Sector / country strategy

Score: 2.25 out of 3

Evaluations

Score: 1.5 out of 3

Additionality statement (non-sovereign only)

Score: 0 out of 2

Activity indicators / metrics

Score: 0 out of 6

Results

Score: 0 out of 6

ESG & Accountability to Communities

10.67 / 30
10 / 21
About component

The ways in which a DFI predicts, mitigates, and communicates the ESG aspects of their activities. At the organisation level this includes E&S global disclosure policy and E&S community disclosure policy. At the project level this includes E&S plans and assessments, and assurance of community disclosure.

E&S global disclosure policy

Score: 1.67 out of 5

E&S community disclosure policy

Score: 4 out of 4

IAM global disclosure documentation

Score: 2 out of 2

IAM community disclosure policy

Score: 0 out of 2

PGM community disclosure policy

Score: 2 out of 2

Summary of E&S risks

Score: 0 out of 2

E&S project plans / assessments

Score: 0 out of 4

Assurance of E&S community disclosure

Score: 0 out of 2

Beneficial ownership (non-sovereign only)

Score: 0 out of 2

IAM global disclosure

Score: 1 out of 1

Assurance of IAM community disclosure

Score: 0 out of 2

Assurance of PGM community disclosure

Score: 0 out of 2

Financial Information

1.75 / 15
6 / 21
About component

This information provides details on the financial performance of DFIs and the structuring of investments. At the organisation level, this includes audited financial reports. At the project level, this includes currency of investment, mobilisation, and concessionality

Financial reports / statements

Score: 0.75 out of 1

Repeat investment

Score: 0 out of 1

Currency of investment

Score: 1 out of 1

Co-financing

Score: 0 out of 3

Concessionality (non-sovereign only)

Score: 0 out of 3

Mobilisation (non-sovereign only)

Score: 0 out of 3

Instrument-specific disclosure

Score: 0 out of 3

Financial Intermediary Sub-investments

1.25 / 10
8 / 21
About component

This information relates to the ways in which investments in FIs are used. At the organisation level, this includes FI sub-investment policy. At the project level, this includes private equity fund sub-investments and FI (bank) sub-investments.

FI sub-investment policy

Score: 0 out of 3.75

Private equity fund sub-investments

Score: 0 out of 2.5

FI (bank) use of funds

Score: 1.25 out of 1.25

FI (bank) sub-investments

Score: 0 out of 2.5