African Development Bank and Fonds d'equipement communal Renew Partnership with Second €150 Million Financing Agreement for Municipal Development
Morocco, July 23 -- The African Development Bank Group and the Fonds d'equipement communal (FEC) have signed a second agreement for a €150 million loan on 22 July in Rabat, to support investment momentum among Morocco's municipalities.The signing took place during an event that also featured the signing of a grant agreement and a letter of intent aimed at anchoring strategic cooperation between the two institutions within a long-term framework.The €150 million 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 fa...
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