OKKO has attracted a loan from the Black Sea Bank for Trade and Development in the amount of up to 25 million euros

On April 27, OKKO and the Black Sea Trade and Development Bank (BSTDB) signed an agreement to open a revolving credit line for up to EUR 25 million.

The Сompany will use the funds as working capital to purchase petroleum products, including in the Black Sea region - Romania, Bulgaria, Greece, and Turkey. Last year, the company imported more than 30% of its gasoline and diesel fuel from these countries.

"This is definitely a demonstration of high-level trust from an international financial institution. It indicates confidence in our ability to maintain solid financial stability and liquidity even in wartime conditions,” stated Vasyl Danylyak, CEO of OKKO. “We hope that the agreement between OKKO and BSTDB will encourage other external donors to provide loans to Ukrainian businesses that remain resilient amidst the ongoing challenges."

The company received its first BSTDB loan back in 2004. In addition to BSTDB, the company has also cooperated with the European Bank for Reconstruction and Development, the International Finance Corporation and a number of Western commercial banks.

“Our company is one of the few in Ukraine that has been fully fulfilling its obligations to all creditors for more than 20 years without restructuring or delays. Today, this is our great competitive advantage, which provides us with access to bank capital in the current difficult conditions of the war in the country,” added Vasyl Danyliak.

"We are deeply pleased to support Galnaftogaz, one of our existing clients, in their efforts to continue their operations and develop alternative logistics routes for light-petroleum products to Ukraine. The current situation in Ukraine has created unprecedented challenges for the country's economy, and we understand the importance of ensuring uninterrupted access to essential goods and services for the Ukrainian people. We remain committed to providing our clients with the necessary financial resources to address their business needs, particularly in those challenging times.", said Dr. Serhat Köksal, BSTDB President at the signing of the agreement.