Financial support for developing countries provided by rich industrialised countries as overseas development aid is in a moment of crisis. France, with national debt of over ₹3.3 trillion, is under pressure to cut overseas aid months after the US slashed it significantly.
The political wrangling over its national debt is casting a shadow on French development agency Agence Francaise de Developpement (AFD).
“The debate in France is harsh because of the fiscal situation,” said Philippe Orliange, executive director of geographies at AFD.
The AFD is the public financial institution that implements France’s overseas development assistance (ODA) programmes. Its funding budget of ₹9 billion for the current year was approved by its board of…