Greece-headquartered Black Sea Trade and Development Bank (BSTDB) has announced that it is providing a €10 million short-term loan to one of the subsidiaries of Ukrainian steelmaker Metinvest Group, with the aim to enhance the group’s iron ore product exports. The loan will bolster Metinvest’s export capabilities and support its production continuity in Ukraine.
“Financing for Ukraine is essential these days, and the Black Sea Trade and Development Bank is committed to supporting the nation's economic resilience. Our €10 million short-term facility for Metinvest exemplifies this commitment, helping to sustain production and preserve employment and export capabilities. By facilitating the export of iron ore products to Metinvest’s key partners, we are not only supporting a vital sector but also contributing to the broader stability and growth of Ukraine’s economy during these challenging times,” Serhat Köksal, president of BSTDB, said.
In the first two months of 2024, Ukraine exported a total 5.66 million mt of iron ore, especially to China.