Romanian Post borrows EUR 6.5 mln from state bank

The Romanian Post will borrow RON 30 million (some EUR 6.5 million) from state-owned Eximbank for a two-year period, the two institutions announced on Monday. This is the third financing agreement the two state-controlled entities have signed in recent years. In 2013, the Romanian Post borrowed RON 100 million from Eximbank, and in 2016, the bank won the post’s tender for a RON 60 million loan. The Romanian Post needs to be capitalized, but the Government’s efforts to increase its share capital have been opposed by the post’s minority shareholder Fondul Proprietatea. The Communications Ministry owns 75% of the company while Fondul Proprietatea owns the remaining 25%. The Romanian Post has the widest distribution network in Romania, covering over 7.5 million addresses and 19 million people. editor@romania-insider.com