EIB Loans Italy Poste €200 Million To Advance Network And Technology Systems

In Rome on Tuesday 22 December, the European Investment Bank (EIB) and Poste Italiane signed a contract for 200 million to finance the company’s multiyear development plan.

The EIB was represented by Dario Scannapieco, Vice-President in charge of operations in Italy, Malta, and the western Balkans; attending for Poste Italiane was Chief Executive Officer Massimo Sarmi.

The loan will finance part of the Poste Italiane plan to upgrade the computer network by introducing advanced technologies to support new services. The resources will also be used for innovations in the infrastructure platforms and logistics in view of the complete freedom of the postal market anticipated by communitarian standards beginning in January 2011.

The financing satisfies the EIB’s eligibility requirements in multiple ways. High quality in mail services is indeed an important factor for economic development. Also decisive is the geographic target of the investments which will be partially addressed to projects in the Convergence area regions within the scope of the program of strategic measures already begun by Poste Italiane.

The operation also consolidates the traditional and optimal relationships existing between the EIB and Poste Italiane established in 2001 which have made possible financing for a total of one billion euros allocated to modernization plans of the logistics network that Poste Italiane put into effect during the last few years.

“The development plan of Poste Italiane has strategic importance for the economic development and the social cohesion of the entire Country,” commented EIB’s Vice-President Scannapieco, “and as EIB we thus renew our pledge vis-à-vis the company society in its continuous path of improvement in network technological contents.”

Topics: 2011, Economic, EIB, Europe, financing, improvement, infrastructure, Italy, mail, modernization, network, postal, poste, technology

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