IFC Signs Finance Agreement with Egypt's Edita

published:02/10/2023 05:08 GMT

Edita Food Industries inked a finance agreement with the International Finance Corporation (IFC) to obtain a long-term loan at a total amount of US$45 million. The facility deal holds a tenor of eight years, according to a bourse filing. Edita will use the financing to boost its working capital as well as capital expenditure in Egypt and Morocco. This aligns with the EGX-listed firm’s international expansion plans and the settlement of up to US$10 million of the previously granted IFC loan....More