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|Business sector:||Information and Communication Technologies|
|Target Board date:||14 May 2007|
|PSD disclosed:||23 Jan 2007|
The proposed project envisages the modernisation of the Romanian Post’s essential infrastructure through the construction and put in operation Posta Romana’s first Automated Sorting Centre in Bucharest and modernise the Cluj Automated Sorting Centre. As a result, the Post will be able to process an increased number of items of correspondence and parcels, while the handling time and quality of service will significantly improve. The Bank will finance over 80% of the total cost of the project to be implemented in accordance with the Bank’s public procurement policy and rules.
Posta Romana is at the beginning of a major restructuring process in which improvement of the quality of postal services plays a central role in light of the recent country’s EU integration. By financing automated sorting installations, the project will improve the standards for business conduct, reducing the delivery time for inbound and outbound postal correspondence.
The project will explore the synergy between the Bank’s objectives and the mandate of the Advisor to the Romanian Government in restructuring the Company. The co-operation with the procurement and restructuring consultants will assist in improving the Company’s corporate governance and increase its operational efficiency.
Posta Romana was established in June 1991 as a result of the separation of the post and telecoms activities from the traditional Post, Telegraph and Telephone Company. In 1998, Posta Romana was incorporated and transformed into a national company. Posta Romana is the sole operator within the scope of universal postal services in Romania.
The EBRD will provide a EUR 50 Million long term loan to be co-financed with other participant bank(s).
EUR 60 Million.
The project was screened B/1 requiring an environmental analysis of the proposed development and a corporate environmental, health and safety audit of the Client. The environmental investigations are currently underway. However preliminary results suggest that the environmental risks associated with the proposed project are unlikely to be significant and will be addressed in an environmental action plan (EAP) to be developed with the Sponsor.
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Last updated 23 July 2010