In 2009, CADES(Caisse d’Amortissement de la Dette Sociale), the state agency charged with Funding France’s social security debt, reached once again the mission which was defined by the French Parliament, assuming €27 billion new social debt.  Social Security Financing Act (SSFA) for 2009 endowed CADES with an additional income, CSG levyof0.2% (Contribution Sociale Généralisée), resulting to 2009 total revenues of €8 billion. In line with its annual target, CADESamortized €5.2 billion making total debt amortized to December 31, 2009of €42.7 billion.with total debt assumed of €134.6 billion.

Year 2009 was an active and very successful one for CADES. A total€35.7 billion was raised, the highest annual amount carried out in one year, of which€25.8 billion were mid- and long-term issues.

In 2010, the funding programme should reach€15 billion and will aim to continue to attract a diversified investor break down and geographical distribution.