Edita inks loan deal with Arab Bank | ZAWYA MENA Edition

Edita inks loan deal with Arab Bank | ZAWYA MENA Edition

Edita inks loan deal with Arab Bank The seven-year loan will finance the purchase and installation of a new production line    An employee counts Egyptian pounds in a foreign exchange office in central Cairo, Egypt, November 3, 2016. Image used for illustrative purpose. 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