AFD-FEC agreement signed. Capturing video
The Community Equipment Fund (FEC) and the French Development Agency (AFD) signed two financing agreements on Wednesday for a € 200 million (M €) line of credit, accompanied by a € 3.5 million technical assistance grant, in support of convergence. sustainability of the Kingdom’s territories and support for the current imperative of economic recovery.
These agreements, signed by Omar Lahlou, Governor, FEC CEO, and Mihoub Mezouaghi, AFD Director in Morocco in the presence of French Ambassador to Morocco Helene Le Gal, mark an important step in deepening the strategic partnership between the two countries. parties, in response to the imperatives of tackling the effects of climate change (resilience) and reducing territorial and social inequalities (convergence), the joint press release said.
Thus, the program supports the sustainable territorial development of the Kingdom and promotes greater socio-economic justice, the same source points out.
To this end, and in addition to the expected contribution to the financing of local public investments, the special grant allows the creation of incentive mechanisms (equipment subsidies, technical assistance offer) proposed by the FEC in support of investments. By contributing to the most significant contribution towards achieving the objectives of the program and in the interests of the most vulnerable areas, the press release says.