The African Development Bank and the Fonds d’équipement communal (FEC) have signed a second agreement for a €150 million loan to support investment momentum across Morocco’s municipalities.
The AfDB financing package will enable the FEC to continue funding sustainable, inclusive and climate-resilient infrastructure projects including the construction of rural access roads, drinking water networks, urban renewal initiatives, as well as educational and socio-cultural facilities.
The goal of this new funding operation is to support the public services at the municipal level, particularly in rural areas, and to improve community’ access to essential services, enhance resilience to climate change, and foster job creation and investment opportunities.
The African Development Bank will also provide technical assistance to the FEC to further strengthen its operational capacities.
“These agreements reflect a strong shared ambition to go even further in supporting municipalities as key drivers of development. Our priority is to accelerate the delivery of sustainable, inclusive and resilient infrastructure for the benefit of local communities,” said Achraf Tarsim, Country Manager of AfDB for Morocco.
“This signing reflects the deepening trust between our two institutions. The FEC and the African Development Bank share common values centered on sustainable development, placed here at the service of municipal development dynamics” said Omar Lahlou, FEC’s Governor and CEO.
The project aligns with Morocco’s development priorities, including the socio-economic development and quality of life of communities in its territories.
As public bank dedicated to financing territorial development, the Fonds d’équipement communal has, for over 65 years, been the leading technical and financial partner of Morocco’s municipalities.
FEC plays a pivotal role in implementing territorial development programs seeking to address local challenges and priorities, particularly in reducing territorial and social disparities, strengthening resilience to climate change, and improving the quality of local public services.
