The European Bank for Reconstruction and Development (EBRD) has announced that it will provide a $100 million loan to food and beverages producer Almarai Company for new investments in Egypt and Jordan, according to a statement released on Wednesday.
The Tadawul-listed company operates in Egypt and Jordan through its respective subsidiaries Beyti and Teeba.
In Egypt, the finance will help Beyti fund additional dairy and juice production capacity to address the increasing demand for its products, and associated growing working capital needs.
“This transaction marks another step in the expanded cooperation across common economies of operations. We are looking forward to continuing our strategic partnership with Almarai,” head of agribusiness for the southern and eastern Mediterranean at the EBRD, Tarek El Sherbini, commented.