A public bank by and for local authorities, that embodies sustainable finance

100% short circuit
100% at the service of local public investment
100% responsible

"Having a bank that does not finance fossil fuels is neither a fad nor a utopia, it is a reality that can be summed up in three words: Agence France Locale."

Yves Millardet, Chairman of the Executive Board
Vue aérienne d'une usine de traitement des eaux usées

A model focused on the general interest

“To embody responsible finance in order to strengthen the power of local action to meet the present and future needs of local residents. This is the raison d’être of AFL, which we, the shareholder communities, adopted in 2020. It has been integrated into the statutes of the AFL and the AFL-ST.

What does this mean in concrete terms for AFL?

Discover more about AFL DNA

A responsible bank

AFL’s strategy in terms of responsibility and climate

AFL is committed to working alongside us, the local authorities, to support the energy, ecological and social transitions that are coming and that are necessary.

To this end, it finances our investments at the best cost and deploys a responsible banking model.

What does responsible mean? A model that takes into account long-term issues, in particular those related to the climate and the planet’s shared and limited resources, and that listens to its stakeholders.

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Focus on AFL’s sustainable financing

At AFL, no green loans, no impact loans, no structured loans but truly responsible financing for truly sustainable projects.

A responsible company

AFL is committed to working alongside us, the local authorities, to lead the energy and social transitions that are coming and that are necessary.

As a company, AFL deploys responsible practices towards the planet and towards its employees in its internal operations.

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Our local authorities at the heart of governance

We, the local authorities, are at the heart of AFL’s governance, whose model, based on two companies, is unique:
– A parent company, which we fully own and manage;
– A specialized credit institution owned by the parent company and responsible for banking activities.


AFL governance

ESG issues fully embraced by AFL’s governance bodies

ESG Governance

At mother-company level (AFL-ST)

At AFL level, as a specialist credit institution

In-house, several of AFL’s governance bodies deploy its ESG strategy

"AFL embodies what local authorities wanted: an ethical financing tool that offers a responsible and sustainable alternative to traditional bank financing."

Olivier Landel

Key values


AFL deploys its expertise in local public finance, financing the ecological transition, etc. Thanks to its teams’ knowledge of the financial markets, AFL optimizes the cost of financing for our local authorities.


Grouped together and united within the AFL, we, the member communities, wish to benefit from financing for our projects. Small or large, rural or urban, metropolitan or overseas, we are all concerned.


As the only shareholders, we, the local authorities, set the strategic direction of AFL. Our access to information on the financial situation, AFL’s rating and the bank’s operations is totally transparent.

Business and sustainable development overview
Business and sustainable development overview (2021)
Business and sustainable development overview (2022)

Do you have any questions ?

  • Who are AFL’s shareholders?

    By law, the only shareholders are the French Local Authorities (Regions, Departments, Municipalities, Groupings of local authorities and local public entities).

  • Do you provide ESG loans?

    AFL does not provide ESG loans. However, based on a screening methodology of local authority budgets (detailed in the Sustainable Bond Framework), ESG capital expenses can be financed by loans that are refinanced through AFL’s Sustainability Bond issuances.

  • What kind of projects are you financing?

    AFL is only financing capital expenses of its members-shareholders and by so projects linked to their respective responsibilities and areas of intervention (such as transport, social work, waste management, water treatment and distribution, firefighting, schools, etc..).

  • What will you do with the profit in the future?

    Strengthen the capital.