Fez-Meknes Secures 1.86 Billion Dirham Loan to Boost Water Security and Public Transport

The Fez-Meknes region is accelerating its development strategy and is investing 1.86 billion dirhams through a loan from the FEC. These funds will be dedicated to securing water resources and restructuring the public transport network.

The Fez-Meknes Regional Council has officially approved a major financing request from the Municipal Equipment Fund (FEC). During its regular session in July, the council approved a loan of nearly 1.86 billion dirhams.

This sum is intended to cover the regional contribution to two large-scale investment programs, affecting sectors critical to the economic and social development of the region. The targeted projects concern the consolidation of water resources and the restructuring of public bus transport in the various municipalities of the region.

This final approval by the regional council follows a thorough review of the application by the relevant authorities. The loan application thus received unanimous approval from the specialist committee before being presented to the plenary session for final approval.

This funding will help fulfill commitments made under two strategic partnership agreements. These agreements were signed during the second National Conference on Advanced Regionalization, giving the projects a national dimension and particular importance in the territorial development roadmap for the Fez-Meknes region.

Water security, a major investment in the Fez-Meknes area

The first part of this financing concerns a partnership agreement in the water sector, the total cost of which is estimated at 10.442 billion dirhams. The contribution of the region, which accounts for a substantial portion of the loan, amounts to 1.455 billion dirhams.

This investment will be spread over a decade, corresponding to an annual budget of approximately 146 million dirhams. For the president of the Fez-Meknes regional council, Abdelouahad El Ansari, this program is the result of a broad institutional collaboration, involving various ministries (Interior, Equipment and Water, Delegate Ministry in charge of the Budget) as well as the Fez-Meknes Regional Multi-Services Company.

The objective, according to El Ansari, is to implement projects aimed at improving management and sustainably securing water supplies throughout the Fez-Meknes region.

Towards a new era for regional public transport

The second structuring project covered by this loan concerns the modernization of public transport. This is a framework agreement relating to the deployment of an investment program relating to a new delegated management model. This model will cover bus transport in urban and inter-municipal areas.

The total cost of this program is estimated at 1.204 billion dirhams, for which the participation of the Fez-Meknes Region is set at 401.4 million dirhams.

According to members of the regional council, this investment should make it possible to modernize the vehicle fleet, optimize the network coverage and improve the quality of service in order to better meet the mobility requirements of citizens and strengthen the economic attractiveness of the different areas of the region.

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(Featured image by Jouni Rajala via Unsplash)

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First published in LES ECO.ma. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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