By: The Quinnipiac University Economics Research Team, Nicholas Ciampanelli
In early July, the European Bank for Reconstruction and Development (EBRD) and Raiffeisen Bank formally co-sponsored a financial package to fund the logistic capacity of eMAG, a leading Romanian online retailer. This loan totaled to 37.55 million Euros, which was a fragment of the net 73.4 million Euro package to finance the company’s second logistics center and automation capital.
Given these investments within the company, eMAG anticipates to capture the growing demand for online products and services prompted by the onset of the COVID-19 pandemic. These investments would enable eMAG to further support the business’ operations and marketplace platforms, thereby expanding its sphere of influence in becoming accessible to millions of other customers in the CEE region. Additionally, Dick Werner, the firm’s Director for Telecommunications, Media, and Technology, stated that strengthening these areas of the business enable the company to not just reach more customers, but offer a “‘wider choice [of products and services], [at] better quality and prices.’”