  We present leading logarithmic QCD corrections to the decay B_s -->
\gamma\gamma in the Standard Model. Further, the form factor F_{1}(0) of B_s
--> \phi\gamma is calculated in the framework of QCD sum rules and found to be
in agreement with the result existing in the literature. Using Vector Meson
Dominance model, the amplitude for B_s --> \phi \gamma -->\gamma\gamma is
calculated as an estimate of the O_7-type contributions to the long-distance
effects in the B_s --> \gamma\gamma decay. The resulting branching ratio B(B_s
--> \gamma \gamma)_{SD+LD_{O_7}} is analysed in view of its strong dependence
on the non-perturbative parameter $\bar{\Lambda}_s$, describing bound state
effects, and the renormalization scale $\mu$. .
