The French Treasury has five departments and a Secretariat General. In addition, Agence France Trésor (AFT) and the Infrastructure Finance Task Force (FIN INFRA) report to DG Trésor.

Macroeconomic Policies and European Affairs Department (SPMAE)

Photo de Nathalie Georges Head of department:  Nathalie Georges

The department is responsible for monitoring the French and international economic environment and preparing macroeconomic forecasts for France and its international sphere. It provides analysis and advice on issues relating to French growth and the conduct of economic policy in France. It is also responsible for European affairs, in particular the preparations for the Ecofin and Eurogroup meetings and the monitoring of European negotiations in the areas of economics and finance. Lastly, it monitors bilateral relations with EU countries.

Public Policy Department (SPP)

Stéphane Sorbe Head of department: Stéphane Sorbe

The department is responsible for DG Trésor’s economic and financial forecasting. It prepares government department forecast accounts. Together with the Budget Directorate, it drafts the Stability Programmes as part of France’s European commitments. It provides forecasts, analyses and proposals in the areas of public finances and public spending, tax policy, social and employment policies and sector-specific policies concerning the market sector, in particular agriculture and networks. The SPP analyses issues related to sustainable development.

Bilateral Affairs and International Business Development Department (SABINE)

 magali cesana  Head of department: Magali Cesana

The department is responsible for bilateral economic, financial and trade relations with all developed and emerging countries (excluding EU countries and sub-Saharan Africa). In liaison with the Economic Departments abroad, it formulates and implements the business support policy by identifying France’s main economic interests in these countries, as well as market access problems and competition conditions. It also steers France’s policy to promote the country as a place to do business. The department also helps define the policy of support and assistance for companies abroad and coordinates export partners (Business France, chambers of commerce, professional federations, foreign trade advisers). It defines and implements financial support policies for major export contracts and foreign investment using the full range of financial mechanisms available to companies for their projects. In this respect, it prepares credit insurance policies. It contributes to the work of structuring industrial sectors which is managed by the strategic sector committees, as regards their export component.

Financial Sector Department (SFE)

Photo de Christophe Bories Head of department: Christophe Bories

The department is involved in developing and implementing regulatory policy for both the financial sector (credit institutions, finance companies, investment firms, insurance companies and intermediaries, financial markets) and the savings sector. In this capacity, it works with the supervisory authorities. It prepares proposals to improve competitiveness, business financing and innovation. It is responsible for relations with the Banque de France and monitors relations with the Monnaie de Paris. It also monitors the financial activities of the Caisse des Dépôts et Consignations. The SFE is also responsible for monetary and financial affairs in Overseas France.

Multilateral Affairs, Trade and Development Policies Department (SAMD)

William Roos Head of department: William Roos

The department deals with international financial issues (presidency and secretariat of the Paris Club, monitoring of the IMF’s work, preparation of G7, G20 and OECD meetings), as well as issues relating to development and climate change financing (joint-oversight of the French Development Agency, monitoring of the initiatives of the World Bank and regional development banks, monitoring of the Green Climate Fund, etc.) and trade and investment policy (monitoring of multilateral and regional negotiations, monitoring of the WTO’s actions, management of the procedure for authorising foreign investment in France). The department also follows the three areas of monetary cooperation agreements which link France and 15 African countries (WAEMU, CEMAC and Comoros), and monitors France’s bilateral relations with all the countries of sub-Saharan Africa. Lastly, the department is responsible for combating financial crime (AML/CFT and corruption) and for imposing international financial sanctions.

Secretariat General

Constance Valigny Secretary General: Constance Valigny

The General Secretariat manages the Directorate’s human resources based in France and abroad, coordinates the monitoring of budgetary issues for the entire Directorate and implements its IT policy. It steers the Directorate’s modernisation projects and coordinates its internal and external communications. It also carries out any audit, study and advisory task entrusted to it by the Director General or the Secretary General.


Agence France Trésor and FIN INFRA

Agence France Trésor

Antoine Deruesnnes Agence France Trésor Director: Antoine Deruennes

Agence France Trésor (AFT) is tasked with managing the debt and the government’s cash position in the taxpayers’ best interests. Created in February 2001, AFT’s actions are a continuation of those of DG Trésor and leverage the strengths of France’s debt: a policy favouring liquidity, full transparency and a determination to combine innovation and security. It continues to develop new products and to modernise the management of the central government’s debt and cash position with the aim of reducing the cost to the public purse. AFT reports to the Director General of the Treasury.

+ Agence France Trésor's website


Jean Bensaid Director: Jean Bensaîd

Created in April 2016, the Infrastructure Finance Task Force (FIN INFRA) is part of the recent reforms of public procurement and public investment project governance. Reporting to DG Trésor, this centre of expertise in the legal and financial structuring of investment operations has assumed the duties of the Public-Private Partnerships Task Force (MAPPP), which has been reporting to DG Trésor since 2011. FIN INFRA’s mission is to promote the financing of investment projects decided by public players, in order to optimise the value and overall cost of projects, and to secure the transactions. FIN INFRA can advise public stakeholders, particularly local authorities, on the structuring of their projects and help them find the most appropriate legal structures and financing solutions.

+ FIN INFRA's website


Publié le