JICA contributes to Morocco’s territorial development projects with a $165 Mln loan
The Japan International Cooperation Agency (JICA) will contribute to the financing of Morocco’s territorial development projects with a $165 Mln loan.
The loan agreement was concluded recently between JICA and le Fonds d’Equipement Communal (FEC), which is trying to diversify its sources of financing on an international scale.
This comes as Morocco is embarking on the implementation of advanced regionalization, which implies the intensification of investment projects in territorial communities (local governments).
The loan will enable FEC to provide local governments with the best possible financing conditions, to promote an inclusive development of the territories through highly sustainable projects where both environmental and social dimensions are taken into account.
For JICA, this operation is a new opportunity to mark its contribution to the improvement of sub-national socio-economic infrastructure and collective services in urban and peri-urban areas.
FEC is a public financial institution whose main mission is to contribute, through loans, to the financing of equipment and infrastructure projects and programs of the Moroccan Territorial Communities.