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.

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