BSTDB supports modernization of the electricity distribution in Ukraine

Press Release | 23-Jan-2014

The Black Sea Trade and Development Bank (BSTDB) announced a USD 30 million loan to DTEK Group, the largest energy company in Ukraine. The seven-year loan will be used by DTEK for corporate purposes, including the modernization of the Group’s electricity distribution network. 

The BSTDB financing will have direct positive effects on the efficiency of Ukraine’s energy sector, improve the environmental and safety performance of the power distribution facilities of DTEK, and contribute to the country’s growth, economic development and employment creation.

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DTEK is the largest energy company in Ukraine that is part of the financial and industrial holding System Capital Management (SCM), Ukraine. Currently, DTEK employs 140,000 people in coal mining and processing, power generation, electricity distribution and sales. DTEK exports electricity to six countries and coal to 36 countries worldwide. DTEK provides services to over 5.2 million individuals and corporate customers.  For additional information, please visit: www.dtek.com/en.

The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine. The BSTDB headquarters are in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The authorized capital of the Bank is EUR 3.45 billion. BSTDB is rated long-term “A-” by Standard and Poor’s and “A3” by Moody’s. For more information on BSTDB, visit www.bstdb.org.

Press contact:

Haroula Christodoulou

Phone: +30 2310 290533

E-mail: cchristodoulou@bstdb.org