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TunisiaEgypt: EBRD invests US$ 100 million in agribusiness
March 30, 2016
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The European Bank for Reconstruction and Development (EBRD) is helping to strengthen the agribusiness sector in Egypt with a US$ 100 million equity investment in one of the country’s sugar refinery companies.
The EBRD’s investment will support a privately owned and efficiently-run player in Egypt’s state-dominated sugar sector. It will also help United Sugar Company of Egypt S.A.E. (USCE) to improve its operational efficiency and competitiveness, as well as enhance the company’s health and environmental practices to meet international standards.
Philip ter Woort, EBRD Director for Egypt, said: “Through this expansion of our partnership with Savola Foods and United Sugar Company of Egypt, the EBRD is very pleased to provide ongoing support to an important foreign direct investor in Egypt whilst simultaneously demonstrating the positive role the private sector can play in developing an efficient and modern food value chain in the country.”
The EBRD has invested over €1.6 billion in Egypt through 31 projects since the start of its activities in the country at the end of 2012.
Source: http://www.ebrd.com
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Egypt
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