The International Finance Corporation (IFC) is currently evaluating the possibility of providing a loan of up to $30 million to Edita Food Industries (EFID) to support its new capital expenditure plans. The IFC’s board is scheduled to convene on August 31st to discuss the proposed loan.
If approved, the loan would offer up to $15 million in funding to Edita Food Industries, Edita Participation Cyprus, and Edita Trade and Distribution. The funds would be utilized to address the group’s capital expenditure needs in Egypt and Morocco, primarily financing investments and capital maintenance requirements for the construction of three pre-treatment or processing plants in existing facilities within Egypt.
The loan is also expected to facilitate Edita’s strategic expansion into priority markets in the Middle East and sub-Saharan Africa, while simultaneously providing partial refinancing of the company’s existing debts. This financial support from the IFC aims to bolster Edita’s growth plans and enhance its operations in the region.
