African Development Bank provides 150 million euros to FEC for local government investments
via Le Matin2 min read
The African Development Bank AfDB Group and the Fonds d'茅quipement communal FEC signed a second loan agreement for 150 million euros in Rabat. This funding aims to strengthen investments by local governments, enabling the FEC to finance sustainable, inclusive, and resilient infrastructure projects. These projects include rural roads, drinking water networks, urban renewal operations, and educational and sociocultural facilities. The objective is to improve public services, especially in rural areas, facilitate access to essential services, enhance climate change resilience, and promote job creation and local investment. The ceremony also included a grant agreement and a letter of intent to establish long-term strategic cooperation. The AfDB will also provide technical assistance to the FEC to boost its operational capabilities. Achraf Tarsim, AfDB Group Country Manager for Morocco, stated that these agreements reflect a shared ambition to support local governments as development drivers, prioritizing the acceleration of sustainable and resilient infrastructure. Omar Lahlou, Governor and Director General of the FEC, highlighted the reinforced trust between the two institutions, emphasizing their shared values of sustainable development. These operations align with the Kingdom's development priorities and the AfDB Group's four cardinal points, aiming to support socioeconomic development and improve the quality of life for local populations.
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