IFC mulls $30mln loan for Egypt’s Edita to boost its capital expenditure

The International Finance Corporation (IFC) is studying loaning Edita Food Industries (EFID) up to $30 million to fund its new capital expenditure, as IFC’s boars will meet on August 31st to discuss the loan.

The loan would leverage up to $15 million to Edita Food Industries, Edita Participation Cyprus, and Edita Trade and Distribution to fund the group’s capex needs in Egypt and Morocco.

The loan aims to finance investments and requirements for capital maintenance expenditures for the construction of three pre-treatment or processing plants in three existing plants in Egypt.

IFC added that the loan would also assist Edita in the strategic regional expansion of its priority markets in the Middle East and sub-Saharan Africa, as well as partial refinancing of its existing debts.