Translated version of this PSD: Romanian
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.
POSTA ROMANA S.A.
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.
EBRD Finance Summary
Total Project Cost
Environmental and Social Summary
Categorised B. The proposed project is unlikely to present significant environmental and social risks and impacts. The potential environmental, health, safety and social (EHSS) issues are expected to be associated with the construction of a new sorting centre, human resources and management of road traffic safety so can be readily identified and mitigated.
Due diligence will review the site specific EHSS issues at the sorting site and corporate management systems of the company to manage EHSS risks, contractor selection and management, land acquisition process, HR policies, permitting requirements and the ability of the project to meet the Bank's performance requirements. It will also consider the design standards in related to the use of sustainable green technologies, review that safety is inherent in the design and the use of automation to minimise manual handling. The management of road traffic safety will also be reviewed. Any required improvements and mitigation measures will be developed in the form of environmental and social action plan and agreed with the company. Following the completion of the environmental and social due diligence this project summary document will be updated.
The technical cooperation programme is subject to further confirmation.
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