In April, the post office voted in favor of $75 billion in financial assistance to Congress because the $10 billion loan was insufficient, both because of the pandemic and because of the long-standing budget shortage. While at the beginning of the year, the mail management said that there would probably be no more money until the end of September, the agency stated in May in a financial document that by accessing a $10 billion Treasury loan and prioritizing certain payments to others, it „expects that it will have sufficient liquidity to continue working until May 2021.“ UsPS has also seen a significant increase in parcel activity since the beginning of the pandemic, but management has repeatedly stated that it does not expect the recovery to continue, nor to compensate for slowdowns in other divisions. The U.S. Postal Service (USPS) says it has reached an agreement on the terms of a $10 billion Treasury loan „if necessary.“ The Ministry of Finance had already achieved most of its objectives prior to the agreement. In June, the Postal Service Board installed a new Postmaster general, Louis DeJoy, who was a major Trump booster and GOP fundraiser. The agency has also sought an external company to evaluate its larger service contracts, with the aim, experts say, of justifying higher parcel delivery rates. DeJoy, who took office last month, said Wednesday that the agency had reached an „agreement in principle“ with the Finance Ministry and that the USPS Board of Governors had unanimously approved the agreement on Tuesday. USPS has relied heavily on major partners such as FedEx, UPS and Amazon to integrate packages into the postal infrastructure for last-mile deliveries to homes and businesses. The service does not need to borrow at this time, but the money will now be available if the financially troubled agency has to access it, Treasury Secretary Steven Mnuchin said in a statement. „While the USPS is able to finance its operating costs without additional borrowing at that time, we are pleased to have reached an agreement on the essential terms of a loan if necessary,“ said Minister Steven T. Mnuchin. „I look forward to continuing to work with postmaster General DeJoy to achieve the President`s goal of establishing a sustainable business model that will allow the USPS to continue to provide the necessary postal service to all Americans without transferring costs to taxpayers.“ President Trump has mocked the agency over the agreements, which industry experts say result in only about 5 percent savings.