The Municipal Equipment Fund (FEC) and the Tangier-Tétouan-Al Hoceïma region signed, on May 20, a financing agreement amounting to 1.3 billion dirhams (MMDH) .
This agreement defines the terms and conditions for granting and mobilizing by the FEC a Line of Credit, for the benefit of the Tangier-Tétouan-Al Hoceïma region for the financing of priority projects of the Regional Development Program (PDR) of the region, indicates a press release from the Fund.
The implementation of these projects aims, in particular, to consolidate the economic attractiveness of the region’s territorial spaces.
Through this new operation, the FEC confirms its determination to support the regions of the Kingdom in carrying out their investment projects, particularly those with a strong social impact, in line with the Bank’s policy in terms of environmental and social commitment ( E&S), which stands out for its alignment with national sustainability regulations.
The realization of this credit line consolidates the confidence of local authorities in the FEC as a historic financial partner, and allows both parties, in a spirit of responsibility and ambition, to confirm their commitment to promoting sustainable regional development, dynamic and inclusive, which ensures that all territories are associated with the objective of shared growth and evolution.
