In 2023, BSTDB extended a short-term revolving trade finance facility of EUR 25 million to Joint Stock Company Concern Galnaftogaz, an existing BSTDB client. Galnaftogaz is a Ukrainian light-petroleum distribution company with primary activities and assets on the downstream side including construction and operation of the gas filling stations in Ukraine.

BSTDB and Galnaftogaz have a proven track record of established partnership since 2004. Since the first loan in 2004, the Bank and the company have entered into several loan agreements in an aggregate amount exceeding USD 100 million primarily supporting the business expansion.

The proceeds of the new BSTDB financing aim to finance the shipment of light-petroleum goods and services from the EU including such BSTDB’s Member Countries as Bulgaria, Greece, and Romania. The facility is instrumental in supporting the company’s continued revenue generation and mitigating the negative impact of the ongoing harsh conditions on its financial position. By providing critical trade finance to Galnaftogaz, BSTDB is playing a key role in promoting economic development and resilience in Ukraine, supporting job preservation, and uninterrupted access to the light-petroleum products by the Ukrainian customers.