AfDB, FEC Sign €150 Million Loan to Support Local Infrastructure in Morocco
The African Development Bank and Morocco's Municipal Equipment Fund have signed a €150 million loan agreement to support local infrastructure projects. The funding aims to improve public services, including water networks and rural roads, while fostering climate resilience.
Why it matters
This investment highlights the role of international development banks in financing sustainable urban and rural development in Africa.
<span style="font-weight: 400;">Rabat – The African Development Bank Group (AfDB) and Morocco's Municipal Equipment Fund (FEC) signed a second €150 million (MAD 1.6 billion) loan agreement in Rabat on Wednesday to support investment by local authorities across the country.</span>
<span style="font-weight: 400;">The signing ceremony also included a grant agreement and a letter of intent designed to strengthen the long-term strategic partnership between the two institutions, the AfDB </span><a href="https://www.afdb.org/en/news-and-events/morocco-african-development-bank-and-fonds-dequipement-communal-renew-partnership-second-eu150-million-financing-agreement-municipal-development-95691"><span style="font-weight: 400;">said</span></a><span style="font-weight: 400;"> in a statement.</span>
<span style="font-weight: 400;">The new €150 million financing will allow the FEC to continue funding sustainable, inclusive and climate-resilient infrastructure projects carried out by Moroccan local authorities.</span>
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