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TunisiaEuropean Bank for Reconstruction and Development invests €5 million in Egyptian frozen fruits and vegetables company
The European Bank for Reconstruction and Development (EBRD) is investing €5 million in Raya Foods, a fast-growing frozen fruits and vegetables production company based in Egypt, to support the fast growing business’ future expansion.
The financing will boost the company’s ability to invest in new equipment and storage facilities to match strong business orders. The market for frozen fruit and vegetables in Egypt has been growing rapidly over the last five years, with an increase of nearly one quarter in retail value last year alone.
Egypt is a founding member of EBRD. Since the start of its operations in Egypt in 2012, the Bank has invested over €5 billion in 95 projects in the country. 2018 was a record year for the Bank in Egypt, when it was the largest EBRD country of operations in terms of new commitments.
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Countries covered:
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Egypt
