Rabat, April 30, 2024. Signature of a financing line amounting to 100 million euros between the Fonds d’Equipement Communal and the Agence Française de Développement.
The Fonds d’Equipement Communal (FEC) and the Agence Française de Développement (AFD) signed a financing agreement on April 30, 2024 for an amount of 100 million euros. This new credit line is intended, mainly, to finance territorial projects contributing to the resilience of territories against the effects of climate change, while being part of the programs of Territorial Communities for their sustainable development. It also aims to contribute to the objective of reducing territorial and social disparities.
This agreement consolidates the strategic partnership established between the two institutions and which has, until now, materialized through the signing of two successive credit lines for a cumulative amount of 300 million euros.
This new operation brings the overall funding envelope granted to the FEC to 400 million euros and reflects the quality of the partnership between the two institutions and their community of values to support the growth of the Kingdom's territories and support their development actions.
This new program also benefits from co-financing from the European Union of 13 million euros and a technical assistance grant from the AFD of 0.2 million euros to finance actions of technical support and incentive investment grants for the benefit of Territorial Communities carrying out projects with a strong environmental, social and climatic impact.
Mr. Omar Lahlou, Governor, General Manager of the FEC, underlines, with satisfaction, that: “This operation is part of the international resource diversification strategy that the Institution is carrying out with success and determination. It also denotes the confidence of our international partners, in particular the AFD, which is based on the achievements of the Bank, the solidity of its fundamentals and its alignment with best practices in the management of environmental and social aspects.
Mrs. Quiterie Pincent, director of the AFD representation in Morocco, underlines: “We are delighted with this new stage of our partnership with the FEC in the service of the ecological and low carbon transition of territories and the reduction of territorial disparities”.
Signature of a financing line between the FEC and the AFD
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Rabat, April 30, 2024. Signature of a financing line amounting to 100 million euros between the Fonds d’Equipement Communal and the Agence Française de Développement.
The Fonds d’Equipement Communal (FEC) and the Agence Française de Développement (AFD) signed a financing agreement on April 30, 2024 for an amount of 100 million euros. This new credit line is intended, mainly, to finance territorial projects contributing to the resilience of territories against the effects of climate change, while being part of the programs of Territorial Communities for their sustainable development. It also aims to contribute to the objective of reducing territorial and social disparities.
This agreement consolidates the strategic partnership established between the two institutions and which has, until now, materialized through the signing of two successive credit lines for a cumulative amount of 300 million euros.
This new operation brings the overall funding envelope granted to the FEC to 400 million euros and reflects the quality of the partnership between the two institutions and their community of values to support the growth of the Kingdom's territories and support their development actions.
This new program also benefits from co-financing from the European Union of 13 million euros and a technical assistance grant from the AFD of 0.2 million euros to finance actions of technical support and incentive investment grants for the benefit of Territorial Communities carrying out projects with a strong environmental, social and climatic impact.
Mr. Omar Lahlou, Governor, General Manager of the FEC, underlines, with satisfaction, that: “This operation is part of the international resource diversification strategy that the Institution is carrying out with success and determination. It also denotes the confidence of our international partners, in particular the AFD, which is based on the achievements of the Bank, the solidity of its fundamentals and its alignment with best practices in the management of environmental and social aspects.
Mrs. Quiterie Pincent, director of the AFD representation in Morocco, underlines: “We are delighted with this new stage of our partnership with the FEC in the service of the ecological and low carbon transition of territories and the reduction of territorial disparities”.
