By: Ahmed Allam

Cairo – Mubasher: Raya Foods, subsidiary of Raya Holding for Financial Investment, signed a funding agreement worth EUR 5 million with the European Bank for Reconstruction and Development (EBRD).

The loan will be disbursed in two tranches with the first tranche valued at EUR 3.4 million, while the second amounts to EUR 1.6 million, CEO of FMCG sector at Raya, Samer El-Waziri said.

In addition, Raya will contribute EUR 2.5 million to the development project to which the loan will be directed. 

It is noteworthy that the EBRD has invested more than EUR 5 billion in 95 projects in Egypt since 2012.