Nicole Madariaga holds a Ph.D in Economics from the University of Paris I. Her thesis work focused on the analysis of trade integration, the localization of industrial activities and regional economic convergence in Latin America. She also lectured at the University of Paris I, at the Paris Graduate School of Economics, Statistics and Finance (ENSAE) and in an engineering school (international trade, development economics, spatial economics). Prior to joining Agence Française de Développement, she held a position as an economist at the French Treasury and Economic Policy Directorate, where she was in charge of analyzing trade and business activities at the international level. She joined AFD in 2010 at the Macroeconomic Analysis and Country Risk Unit and has been holding a position as an economist since 2014 at the Urban Development, Town Planning, Housing Unit.