2024-03-01 11:00:52
The main operational and financial indicators of the Fund at the end of 2023 showed a favorable development compared to 2022.
Indicators: The commitments and disbursements of loans from the Municipal Equipment Fund (FEC) amount respectively to more than 4.3 billion dirhams and more than 4 billion dirhams for the year 2023. This is what emerges from the operational results of the bank recently revealed by it in a press release. It thus achieves a significant increase of more than 60% for loan commitments and more than 38% for loan disbursements compared to 2022. It also appears that the Fund has financed 46 projects linked to the implementation of sustainable socio-economic investments in terms of E&S.
The Municipal Equipment Fund (FEC) has just revealed its operational and financial indicators for the 4th quarter of 2023. Thus, the Fund has strengthened its dynamic focused on the sustainable development of territories by ensuring that sustainability is at the heart of its interventions as a lever for performance and growth. As cited in a press release from the bank, it is also committed to promoting projects that are both sustainable and beneficial for target populations, particularly through the integration of environmental and social (E&S) risk management. in the evaluation process of projects submitted for its financing.
In 2023, it continued to consolidate its commitment to local authorities by providing them with the financing and support necessary to carry out investment projects adapted to their priority needs, in particular those aimed at promoting territorial attractiveness, the reduction of territorial and social disparities as well as the fight once morest the vulnerability of territories to the effects of climate change. In this sense, its main operational and financial indicators at the end of 2023 have experienced a favorable evolution compared to the year 2022.
According to the same source, they demonstrate its resilience and the solidity of its fundamentals, in a context marked by a tightening of refinancing conditions both at the national and international level. At the operational level, loan commitments and disbursements amount respectively to more than 4.3 billion dirhams (billion dirhams) and more than 4 billion dirhams for the year 2023, a significant increase compared to 2022, i.e. more than 60% for loan commitments and more than 38% for loan disbursements.
The same source indicates that this level of lending activity is of an exceptional nature due to the co-financing by the FEC of a strategic project of national interest, which aims to combat water stress and mitigate the impacts linked to climate change. . In 2023, the 46 projects financed by the bank are linked to the realization of sustainable socio-economic investments in terms of E&S, thus contributing to sustainable and resilient territorial development, facing the effects of climate change.
In the same sense, the results of the E&S rating of these projects reveal a predominance of projects classified in “Categories D and C”, i.e. more than 89%, and which concern projects with minimal and easily controllable risks, according to the bank. Concerning the financial indicators, they show a positive evolution at the end of the year 2023. Thus, the GNP stood at 669 million dirhams, up slightly compared to that recorded last year, thanks in particular to the quality of the loan portfolio to date and the increase in customer receivables. During the year 2023, the net result of the FEC would be down compared to 2022, due to the bank’s contribution to the Special Fund for the management of the effects of the earthquake which hit the Kingdom of Morocco.
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