Cairo – Mubasher: The European Bank for Reconstruction and Development (EBRD) on Sunday announced that it has provided credit facilities worth around $52 million for Angel Yeast Egypt Company, the Egyptian subsidiary of China’s Angel Yeast Co.  

The loan allows the company to increase its dry yeast production, which is mainly exported, and to launch a yeast extract, a higher value-added product, according to the bank’s statement.

Moreover, the yeast manufacturer​ will increase its purchase of local raw materials, the lender added. 

“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,” the statement said.