FECL definition

FECL means Fonds d’Equipement des Collectivités Locales, the Borrower’s fund for capital goods acquisition of local communities;
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FECL means Fonds d’Equipement des Collectivités Locales, a fund established by the Borrower on July 4, 1977, for the purpose of providing interest free loans or grants to carry out municipal projects;
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FECL means the Fonds d’Equipement des Collectivités Locales, the local government investment fund through which the flow of fiscal transfers from the central budget to local governments is managed.
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Examples of FECL in a sentence

  • The maximum tenor for each FECL shall be as stated in the Letter of Offer.

  • Despite anything else contained herein, the availability of the FECL Facility shall be subject to the Borrower signing and delivering to the Bank any documents in form and content acceptable to the Bank, and doing all such things as the Bank may from time to time require.

  • The FECL Facility shall be subject to, and in accordance with, the guidelines laid down by the ABM and/or BNM or such guidelines as may be varied from time to time.

  • The FECL Facility shall be subject to periodic review at the discretion of the Bank and repayable on demand.

  • FECL Facility the Foreign Exchange Contract Limit Facility to be granted by the Bank to the Borrower subject to the terms and conditions in this Agreement.

  • The Borrower shall repay the FECL Facility in the amounts and on the Repayment Dates stated in the Letter of Offer.


More Definitions of FECL

FECL the Foreign Exchange Contract Limit facility granted to the Borrower by the Bank and includes any part thereof pursuant to the terms herein and the General Conditions set out in item 9 of the Schedule 2 hereto.
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