The Fonds d’Equipement Communal (FEC) reported a net banking income (NBI) of 326 million dirhams (MDH) for the first half of 2024, maintaining a level comparable to the same period in the previous year.
Loan commitments and disbursements amounted to 1.505 billion dirhams (MMDH) and 817 million dirhams (MDH), respectively, by the end of June 2024. These funds enabled the FEC to contribute to the financing of various projects led by Local Authorities across different sectors, according to a statement from the FEC published on the Moroccan Capital Market Authority (AMMC) website.
The first half of 2024 saw a return to a normative level of lending activity compared to 2023, a year that was notable for the FEC’s co-financing of a strategic national project of exceptional scale.
As a result of these new financings, customer loans increased by 2% year-on-year, surpassing 27 billion dirhams (MMDH) by the end of June 2024.
In line with its Environmental and Social (E&S) policy, which came into effect in April 2022, the FEC noted that most of the projects it financed in the first half of 2024 were classified under “Categories D or C,” indicating minimal and manageable risks.
