FEC: 1.8 billion DH of loan commitments in H1

The Communal Equipment Fund (FEC) achieved, in the 1st half, net banking income (NBI) of 323 million DH, up 1% year-on-year. This increase is explained by the combined effect of the level of operations and the quality of the portfolio to date, indicates the FEC in a press release, adding that during this period, loan disbursements stood at more than 1.3 billion of DH to allow the financing of several projects for the benefit of the different categories of local authorities.

This financing, more than 24% of which falls within the framework of the program for the reduction of territorial and social disparities (PRDTS), mainly related to the realization of urban development projects, in particular for the implementation of programs for the at city level, specialized equipment and road infrastructure.

In total, loan commitments reached more than MAD 1.8 billion in H1-2022, an increase of 19% year-on-year. 87% of these commitments were granted to Regional Councils and Prefectural and Provincial Councils, respectively up to 53% and 34%.

Regarding receivables from customers, they reached nearly 26 billion dirhams, up nearly 3% year-on-year. The financial indebtedness of the FEC, for its part, exceeded 21.5 billion DH, consisting mainly of resources mobilized on the domestic financial market, in particular through bond loans which represent a share of more than 44%.

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