Arab Finance: Banque Misr and Edita Food Industries (EFID) have signed an eight-year loan contract worth EGP 990 million to finance the latter’s expansion plans, the bank said in a press release on May 21st.
The loan is intended to fund the establishment of four new production lines to scale up Edita’s output capacity.
Additionally, the loan aims to prioritize projects that contribute to economic development goals, as Banque Misr is committed to backing national projects that foster the Egyptian economy and attain sustainable development.
This financing will allow Edita to keep up with the increasing demand for its products as well as strengthen its position in the Middle Eastern and North African markets, Edita’s Chairman Hani Berzi highlighted.