The bank of municipalities, commonly known as the Special and Inter-municipal Intervention Fund (FEICOM), closed the past financial year on an upward trend, which allows it to position itself as an essential link in the decentralization process.
Despite a difficult economic situation reinforced by the outbreak of the coronavirus pandemic, the data as of December 31, 2020 are positive with an overall turnover of 210 billion FCFA ($ 391 million) against forecasts of 175 billion, or an achievement rate of 120% in relative terms.
Revenue increased by 32 billion in absolute value and 18% in relative value, which enabled the bank of municipalities to strengthen its preeminent role in the local development system. Thus, during the period considered, the equalization resources returned to the municipalities amounted to 108 billion, which represents an increase of 23 billion compared to the previous financial year and an increase of 27% in relative value.
FEICOM, whose contribution is significant in the endowment of municipalities with infrastructure, has invested more than 26 billion for the benefit of around one hundred municipalities, which has enabled these Decentralized Territorial Collectivities (CTD) to acquire basic equipment promoting a better supervision of local populations.
