Every grain counts: improving Egypt’s food logistics
Egypt is a major importer of grain, so the efficient storage and handling of this commodity holds great importance for the country’s economy. To improve operations in this area, the EBRD agreed to extend a US$ 20 million (€18.4 million equivalent) loan to Medsofts, a family-owned company that is one of the key agricultural importers and supply chain managers in Egypt.
The loan will finance the company’s working capital, which is growing due to the completion of a grain-storage and handling terminal, 50 per cent owned by Medsofts, in the port of Alexandria. The investment will increase the terminal’s utilisation rate and set a standard for efficient grain logistics operations in Egyptian ports. Technical assistance linked to the project will help Medsofts implement international standards for corporate governance and risk management.
Technical assistance linked to the project is funded by the EU Neighbourhood Investment Facility