The EBRD is considering providing a senior secured loan of EUR 46.1 million to C.N. Posta Romana S.A. The loan will be used to finance the company's priority capital expenditures.

The project will support the operational modernisation of Posta Romana aimed at expanding parcel and express mail activities and upgrading of the essential postal infrastructure.

Transition impact of the project is expected to derive from:

i) demonstration of a successful restructuring of a state-owned enterprise aimed at reorganisation of the business to focus on growing segments of parcels and financial services, increase of operational efficiency and modernisation of the IT infrastructure;

ii) setting standards for corporate governance and business conduct through implementation of corporate governance improvements;

iii) financial inclusion through facilitating access to the formal financial sector.

C.N. Posta Romana S.A. is the Romanian national postal operator. It is also a designated operator providing universal postal services. Posta Romana is owned by the Romanian state through the Ministry of the Information Society with a 75 per cent stake, and by Fondul Proprietatea (the FP) forthe remaining 25 per cent.

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