Banque Misr awards $21.22mln loan to Edita for production expansion

PHOTO

Egypt - In line with its robust marketing strategies and developmental objectives, Banque Misr has awarded a long-term loan of EGP 990m to Edita Food Industries. This loan supports the national economy by fostering growth in various sectors.

The agreement, signed by Banque Misr Chairperson Mohamed El-Etreby and Edita Chairperson Hani Berzi, spans eight years. It will finance the establishment of four new production lines at Edita, enhancing the company’s capacity. This initiative underscores Banque Misr’s commitment to economic development, as it continually backs projects that bolster the Egyptian economy and promote sustainable growth.

El-Etreby highlighted Banque Misr’s pivotal role in economic support, noting that the bank, as a leading financial institution, funds a wide array of projects. He pointed out that providing loans with favourable terms and guarantees, coupled with a flexible financing approach, catalyzes investment. The food industry is vital for Egypt, contributing to export expansion, job creation, and competitive prowess in international markets, thereby benefiting the economy.

Berzi expressed that the loan signifies Edita’s dedication to progress and market leadership. The funds will enable Edita to satisfy growing product demand and fortify its footprint in the Middle East and North Africa.

Banque Misr is committed to collaborative efforts that align with the government’s economic enhancement strategies. The bank focuses on delivering banking and financial services efficiently and innovatively. It aims to sustain service excellence, achieve enduring success, and engage in customer-centric activities. Banque Misr’s ethos and strategies are firmly rooted in its pledge to Egypt’s sustainable development and prosperity.