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The EBRD and EIB will provide €18 million to modernize Poșta Moldovei (Post of Moldova) and facilitate the digital transition of the company and diversify its services.

The EBRD and EIB will provide €18 million to modernize Poșta Moldovei (Post of Moldova) and facilitate the digital transition of the company and diversify its services.

According to the European Bank for Reconstruction and Development, among other things, the EBRD plans to provide a €9 million loan to Moldova for Poșta Moldovei in a project co-financed by the European Investment Bank for a total of €18 million to improve the digital transition of the company by implementing electronic payment solutions and supporting the modernization of its infrastructure. The EBRD intends to decide on the allocation of the loan on July 19. The EBRD is planned to provide financing for Poșta Moldovei in two tranches of €3 million and €6 million. Overall, the project will help Poșta Moldovei to develop its e-wallet, diversify its services, promote e-commerce in Moldova, as well as support the modernization of the company's infrastructure, including modernization of the mail sorting and operations center, automation of international parcel processing, upgrade of IT infrastructure related to postal operations and fleet renewal. In addition to the company's resource efficiency, the project is also expected to improve end-user efficiency and, therefore, increase the competitiveness of the economy as a whole. The project will also support the objective of "Good Governance", allowing the development of skills necessary for efficient deployment of electronic payment and e-commerce infrastructure, improving Poșta Moldovei's commercial and operational performance and strengthening its institutional capacity. The Ministry of Finance will be the borrower and the Ministry of Economic Development and Digitalization, as a line ministry, will supervise the modernization project of Poșta Moldovei. Poșta Moldovei is a joint-stock company, fully owned by the Moldovan government, a national postal operator providing postal, delivery and financial services throughout the country. The total capital cost of the project is expected to be around €18 million, with a €9 million EBRD loan to finance the project complemented by a €9 million loan from the European Investment Bank. The EBRD's investment of €3 million in the first tranche is planned to enhance the digitalization of Poșta Moldovei by introducing electronic payments, while the second tranche of €6 million (to be disbursed after due diligence is completed) will support the modernization of the company's infrastructure. // 12.05.2023 - InfoMarket.

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