The Fonds d’Équipement Communal (FEC) ended the first half of 2024 with a consolidated net profit of 177 million dirhams (MDH), marking a 3% increase compared to the same period in 2023. This positive result highlights the robust performance of the FEC’s activities, driven by a net banking income (PNB) of 326 MDH and the continued quality of its portfolio, as stated in an official release.
The first half of 2024 saw the FEC’s loan activity return to normal levels after a year of exceptional co-financing for a large-scale strategic project in 2023. As of June 30, 2024, the fund’s loan commitments reached 1.505 billion dirhams (MMDH), with disbursements totaling 817 MDH. These funds have supported several key infrastructure projects led by Local Authorities, spanning various sectors.
As a result of these new loan commitments, customer loans exceeded 27 billion dirhams by the end of June 2024, a 2% increase from the previous year. This growth underscores the FEC’s continued contribution to local infrastructure development and modernization of territorial equipment.
In parallel, the FEC strengthened its financial foundation during this period, with equity and similar capital surpassing 6 billion dirhams, marking a growth of over 3% compared to the end of 2023. This solid financial base allows the FEC to meet the increasing financing needs of Local Authorities while ensuring stability to support large-scale projects across Morocco.
In line with its environmental and social (E&S) policy, implemented in April 2022, the FEC continues to focus on sustainability in its financing activities. The E&S rating results for the first half of 2024 indicate that 93% of the projects financed by the FEC fall within the “Categories D and C,” reflecting minimal environmental and social risks. This approach demonstrates the FEC’s commitment to integrating sustainability and responsibility into its interventions, while also promoting local development.
As it continues to meet the needs of Local Authorities, the FEC asserts itself as a key player in financing public infrastructure in Morocco. With a strategy centered on sustainable growth and local project support, the FEC is well-positioned to maintain its positive trajectory in the second half of 2024, solidifying its role as a trusted partner for local authorities.
By combining financial performance with a commitment to sustainable and responsible management, the FEC plays a crucial role in enhancing territorial infrastructure, contributing to Morocco’s long-term development.
