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V.E provides a Second-Party Opinion on the sustainability credentials and management of the AFD’s SDG Bond Framework

The Framework will finance green and social projects contributing to the six transitions of the AFD’s strategic plan, namely: demographic and social transition, energy transition, territorial and ecological transition, digital and technological transition, economic and financial transition, and political and citizen transition. The eligible projects are likely to contribute to all 17 United Nations Sustainable Development Goals.

V.E assigned a Second Party Opinion (SPO) on the sustainability credentials and management of the SDG Bond Framework. We is of the opinion that this Framework is aligned with the four core components of the Green Bond Principles (2018) and Social Bond Principles (2020), as well as the best practices identified by V.E. We expressed an advanced assurance on the contribution of these bonds to sustainability.

V.E has produced more than 260 Second-Party Opinions on sustainable financing operations in Europe, Africa, Americas and Asia. We are a Climate Bonds Standard Approved Verifier.

The Agence Française de Développement (AFD) is the French Development Agency implementing policy in the areas of development and international solidarity.

To view the SPO in full, find the PDF attached below. For more information, please contact our Sustainable Finance Team at

AFD’s Resources:

Press Release


CEO Statement

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