14 Dec 2020
EUR 56.10 million
NIB and Lietuvos Pastas (LP) have signed a ten-year loan of EUR 17.5 million to finance the construction of a new centralised mail sorting facility in Vilnius, the renewal of the logistics vehicle fleet and related modernisation investments.
LP’s investments in a new centralized sorting facility will allow for the automation of the mail handling and support the optimisation of the entire delivery process.
At present, the company is undergoing several transformations due to the growing number of shipments, increasing competition and changing consumer expectations. Investments in modernisation is intended to create benefits for customers, including enterprises and individuals.
“Well-functioning postal services are still an essential pre-requisite for the overall efficiency of the economy. LP’s investments will have a notable direct effect on the company’s productivity and output capacity, which will facilitate further growth in e-commerce”, says Henrik Normann, NIB President & CEO.
Asta Sungailienė, the Director General of Lietuvos Pastas, stated that these investments will write a new page in the modernisation history of Lietuvos Pastas. “The centralised sorting infrastructure will allow the company to automate most of the postal service processes, to simplify and improve the quality of its operations and, most importantly, to further enhance its customer service and the working conditions of the employees involved in the sorting processes,” she emphasised.
Lietuvos Pastas is a state-controlled public limited liability company and runs the widest network of postal access points in Lithuania. Lietuvos Pastas offers postal, logistics and financial intermediation services.
NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.
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