Cairo – Mubasher: Edita Food Industries signed a medium-term loan agreement worth EGP 105 million with the Arab Bank.

The seven-year loan will finance the purchase and installation of a new production line, according to a statement to the Egyptian Exchange (EGX) on Sunday.

“The facility is eligible to be issued under the umbrella of the [Central Bank of Egypt’s (CBE)] initiative, granted with an interest rate of 8%,” the statement showed.

During the first six months of 2020, Edita logged EGP 93.78 million in net profits, down from EGP 167.8 million in the year-ago period.