EBRD supports Chinese investment in Egypt with loan to Angel Yeast

The European Bank for Reconstruction and Development is supporting Egypt's efforts to attract foreign direct investment in the country's agribusiness sector with a $52 million loan to Angel Yeast Egypt, a global manufacturer of yeast and yeast extract which is fully owned by China-based Angel Yeast Co. The loan will enable Angel Yeast Egypt to increase production of dry yeast, which is mainly exported, and to launch a yeast extract, a higher value-added product.