Almarai receives USD 100 mn EBRD loan for Egypt, Jordan investment

The European Bank for Reconstruction and Development (EBRD) has loaned Saudi dairy firm Almarai USD 100 mn for new investments in Egypt and Jordan, the development bank announced in a statement. An undisclosed sum will go to the company’s Egyptian subsidiary Beyti to help it increase production capacity of its dairy and juice products. The announcement came a day after Beyti CEO Mohamed Badran revealed plans to increase exports by 10% during 2020. Beyti signed a EUR 44 mn loan agreement with the EBRD in 2018 to finance expansion and capital expenditures.