Egypt’s National Bank approves lending food maker Edita $12.7mn

The National Bank of Egypt has approved to provide a credit facility worth 100 million Egyptian pounds (US$12.7 million) to the Egyptian foodmaker Edita (EFID.CA), a source from the bank told Amwal Al Ghad.

A source further said Wednesday the approved credit facility is probably a short termed, tailored to finance Edita’s working capital. It could be in the Egyptian pound in other foreign currency as pursuant to the company’s needs, the source added.