A banking consortium led by Banque Misr has signed contracts to increase its syndicated loan to El Canal Sugar Company to EGP 3.1 bn, marking a EGP 1.35 bn increase, Al Masry Al Youm reports. The additional funding will be used to finance the establishment of a sugarcane factory in Sharqiya. The consortium includes Bank Audi, Abu Dhabi Islamic Bank, Export Development Bank, Banque du Caire, and National Bank of Abu Dhabi, among others.

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