IFC to provide $20 million loan to Egypt’s Edita

The International Finance Corporation (IFC), the World Bank’s private-sector lending arm, signed a $20 million medium-term loan agreement with Egyptian foodmaker Edita, the company said on Sunday.

The deal will see IFC offering Edita a $20 million loan over seven years. The loan can be later increased to a further $10 million, the Egyptian company said.

The loan will support Edita’s capital expenditures and expansion plans in Morocco and other markets.