The European Bank for Reconstruction and Development (EBRD) announced lending Angel Yeast Egypt USD 52 mn. The company, a global yeast manufacturer, is the Egyptian subsidiary of China’s Angel Yeast Co. “The loan will enable Angel Yeast Egypt to increase production of dry yeast, which is mainly exported, and to launch a yeast extract, a higher value-added product. The company is already working with local suppliers of molasses, a by-product of the sugar industry, and will increase its purchase of local raw materials,” EBRD says.

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