Arab Finance: The board of directors of Al Khair River for Development Agricultural Investment and Environmental Services (KRDI) has approved a five-year loan worth EGP 50.9 million at an 11% interest rate from the National Bank of Egypt (NBE), according to a statement filed to the Egyptian Exchange (EGX) on May 7th.
The loan will be allocated for the renovation of the company’s agricultural machines.
Al Khair River is an EGX-listed company since December 2021 that operates in a number of major sectors, including land reclamation, provision of equipment and facilities to lands, and planting reclaimed lands using modern irrigation methods, in addition to livestock and poultry farming.