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Sunday, May 26, 2024

Local Authorities: Over 3.04 Billion Dirhams Loans Contracted in 2021

A total of 3.04 billion dirhams of loans were contracted by the local authorities (CT) from the Communal Equipment Fund (FEC) in 2021, according to the Budget Directorate, under the Ministry of Economy and Finance.

“In 2021, the Credit Committee held 10 meetings to decide on loans for a total amount of 3.04 billion dirhams, intended to finance infrastructure projects and equipment of local authorities, covering various sectors of financing and totaling an investment of 13.7 billion dirhams,” said the Directorate’s 2021 activity report.

The loans granted are made up of traditional loans with a share of 47% and an amount of 1.43 billion dirhams and loans under the memoranda of understanding concluded between the Ministry of Economy and Finance (MEF), the Ministry of Interior (MI) and the FEC.

By type of borrower, the regions dominated the structure of loans granted to local authorities with a share of 49%, said the report, noting that the year 2021 was marked by the signing of a memorandum of understanding for the benefit of the expressway Tiznit-Laayoune for an amount of 950 MDH.

The municipalities are in 2nd position with 31%, followed by the prefectures and provinces with a share of 20%.

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