European Bank for Reconstruction and Development grants $40mln loan to Angel Yeast Egypt

The European Bank for Reconstruction and Development (EBRD) granted a $40 million loan to yeast extract manufacturer Angel Yeast Egypt to help the company boost its production and exports, according to a press release on December 15th.

The bank noted that the loan would also promote diversification and enhancement of the company’s value chain by adding new suppliers from the private sector.

The loan will also have a positive environmental impact by processing 81,000 tons of sugar beet and cane molasses annually into high-value food products and organic fertilizers.

Angel Yeast Egypt is a subsidiary of Angel Yeast China, one of the world’s largest producers and exporters of yeast and yeast extract.