Baker McKenzie Cairo has advised International Finance Corporation (“IFC”), a member of the World Bank Group and the largest global development institution focused on the private sector in emerging markets, in connection with a USD 40 million loan agreement with Nile Sugar S.A.E. (“Nile Sugar”).
The financing will support the cultivation of 5,713 hectares of sugar beet in Minya, Upper Egypt, contributing to the development of Egypt’s agricultural sector and strengthening local supply chains.
Baker McKenzie acted as local counsel on the transaction, advising on all aspects of the financing under Egyptian law.
Commenting on the transaction, Ghada El Gharib, Counsel at Baker McKenzie, said:
“This project reflects IFC’s continued commitment to supporting sustainable agricultural development in Egypt. We are pleased to have advised on this important financing, which will contribute to enhancing local production capacity and driving economic growth in Upper Egypt.”
The Baker McKenzie team was led by Ghada El Gharib, with key support from Amgad Yousry, Omar Gamaleldin and Noureldin Elhayatmy.
This transaction further builds on Baker McKenzie Cairo’s ongoing support to IFC. Most recently, the firm advised IFC on a USD 20 million Financing to GlobalCorp for Financial Services S.A.E.