(Ecofin Agency) - The European Bank for Reconstruction and Development (EBRD) provides $44 million to support the activities of the Egyptian company Beyti, specialized in the production of juice, milk products, and yogurt.

This company established in 1998 and owned at 52% by Almarai Company, one of the leading food producers in the Middle East and North Africa, will use the money to fund new investments and increase its milk and fruits concentrates. It will also enhance its logistical capacities by creating new distribution centers.  

Let’s remind that in July 2018, Janet Heckman, representative of EBRD in South and East Mediterranean region, indicated that the institution would invest $1.4 billion in Egypt by the end of 2018 to finance projects in various sectors. It is also worth reminding that to date, EBRD has already invested more than €4 billion in 85 projects in Egypt. It has also provided technical assistance to more than 700 local SMEs.

Chamberline Moko