March 22 (SeeNews) - The Bulgarian government said on Wednesday that it has sought approval from the European Commission to inject 50 million levs ($27.6 million/25.6 million euro) in the capital of Bulgarian Posts in the form of a loan as part of a recovery plan.
The recovery plan also include restructuring the liabilities of Bulgarian Posts with the help of the Bulgarian Development Bank, as the postal company currently incurs annual losses between 6 million and 7 million levs in interest payments, the government said in a statement.
The recovery plan aims to boost Bulgarian Posts' activities in the area of courier services and to launch its full digital transformation, it added.
Earlier this month, Bulgarian Posts said it will assess the market to estimate project costs for the introduction of an integrated digital platform.
(1 euro = 1.95583 levs)