Yeah - a standard road double 53/39 up front, and a 30t freewheel in back will open it up considerably.
I did just that to my Mondia, and it worked fine. Didn't need a new bb, just a crank, freewheel, and Shimano Light Action RD. You might get away with using your RD - mine was a Very Short cage Suntour Superbe.
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