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22 Aug 2018, Gergana Bencheva, EMIS Editor

EBRD to provide USD 44m loan to Egypt’s leading dairy producer

The European Bank for Reconstruction and Development (EBRD) has agreed to provide a USD 44 million loan to leading Egyptian dairy and juice producer Beyti, CEEMarketWatch reported.

Thanks to the funding, the group will be able to refinance its existing short-term loans with a longer tenor loan. Also, it will be able to make new investments to expand its production and logistics capacities.

EBRD’s loan to Beyti includes a committed tranche of up to EGP 150 million and an uncommitted tranche for up to USD 35.5 million. The financial institution has been active in Egypt since 2012 and until now it has invested over EUR 4 billion in 85 projects in the country, CEEMarketWatch noted.

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