Dutch mining and metallurgical holding company of Ukrainian billionaire Rinat Akhmetov, people's Deputy Vadim Novinsky announced on Monday the release of the final stage of negotiations with the black sea Bank of trade and development over the seven-year credit lines, totaling 62 million Euro, already approved by the Board of Directors.
In Metinvest said that the loan will be used by the company to implement its investment program and working capital.
"We look forward to the cooperation with the black sea Bank of trade and development, as it will mark an important stage in the history of Metinvest, for the first time we will cooperate with international financial organization. In addition, such collaboration illustrates the support and trust of the black sea region as a Group, and Ukraine. Partly it became possible due to the high environmental, social and governance standards of the Group, and we strive to constantly improve them", - commented Yuriy Ryzhenkov, CEO of Metinvest Group.
black sea Bank of trade and development is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Turkey and Ukraine. It 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 of the participating countries.
