Organisation and missions

CNA operates under Articles R 122-6 to R 122-15 of the French Road-System Code (Code de la Voirie Routière), which includes the provisions of Decree 63-585 of 20 June 1963 amended by Decrees 68-972 of 5 November 1968 and 86-910 of 30 July 1986. As a financially independent public-sector agency, CNA receives no funding from the central-government budget. Its Board of Directors discusses the budget, accounts, and borrowing programme. CNA’s administration, accounting, and financial management are handled by Caisse des Dépôts et Consignations pursuant to an agreement between the two institutions. CNA, acting within its terms of reference, implemented an annual loan programme drawn up in close collaboration with its supervisory ministries and the eligible motorway operators (Sociétés Concessionnaires d’Autoroutes: SCAs). The funds raised by CNA were redistributed as loans to the eight companies: Autoroutes Paris-Rhin-Rhône (APRR) Société des Autoroutes Rhône-Alpes (AREA) Autoroutes du Sud de la France (ASF) Autoroutes et Tunnel du Mont-Blanc (ATMB) Société des autoroutes Estérel, Côte - d’Azur, Provence, Alpes(ESCOTA) la Société des Autoroutes du Nord et de l’Est de la France (SANEF) Société des Autoroutes Paris-Normandie (SAPN) Société Française du Tunnel Routier du Fréjus (SFTRF) The loan contracts between CNA and the various companies define the reciprocal obligations of the two parties, notably the beneficiaries’ obligation to repay CNA at scheduled instalment dates. CNA extends loans to companies at the same interest rates and maturities as the paper it issues to fund the loans. As a result, CNA does not generate interest-margin income from its finance activities.