EBRD provides Olam International with USD 30 mn loan to fund operations in Egypt

EBRD provides Olam International with USD 30 mn loan to fund operations in Egypt: The European Bank for Reconstruction and Development (EBRD) is providing agribusiness trader Olam International with a USD 30 mn loan to support Olam’s activities in Egypt, the bank said in a statement on Thursday. The loan will help Olam increase the volume of dried onions exported, “while also transferring expertise to its suppliers from the firm’s operations in California.” The loan is part of USD 150 mn in financing the EBRD will provide Olam for its operations in Egypt, Georgia, Poland, Turkey and Ukraine. The move is the first announcement by the EBRD for funding Egypt’s agribusiness sector since signing a a joint declaration with Egypt, the UN Food and Agricultural Organization (FAO), and the World Bank to promote investment in efficient and sustainable agricultureearlier this month.