More than 3.04 billion dirhams in FEC loans in 2021

A total of 3.04 billion dirhams (MMDH) in loans was contracted by local authorities (CT) from the Municipal Equipment Fund (FEC) in 2021, according to the Budget Department, under the Ministry of the Economy. and Finance.

“In 2021, the Credit Committee held 10 meetings to decide on loans for a total amount of 3.04 billion dirhams, intended for the financing of infrastructure and equipment projects for local authorities, covering various sectors of financing and totaling an investment of 13.7 billion dirhams “, we read in the management’s activity report for 2021.

The loans granted are made up of conventional loans with a share of 47% and an amount of 1.43 billion dirhams and loans under the memorandums of understanding concluded between the Ministry of Economy and Finance (MEF), the Ministry of the Interior (MI) and the FEC, relating to the financing of the share of the MI or CTs in territorial development projects and programs (1.61 billion dirhams; 53%).

By type of borrower, the regions dominated the structure of loans granted to LAs with a share of 49%, specifies the report, noting that the year 2021 was marked by the signing of a memorandum of understanding for the benefit of the Tiznit-Laâyoune expressway for an amount of 950 MDH.

Municipalities are in 2nd position with 31%, followed by prefectures and provinces with a share of 20%. By sector of intervention, the report shows that 30% of FEC loans financed urban development works, 21% road infrastructure, while 20% of loans were intended for specialized equipment.

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