Russia’s ELEKTRONIKA bank (Moscow) has been working on a program launched for operations with Belarusian enterprises since the end of 2005. The bank provides credits to Russian businesses which operate as agents of Belarusian major producers. As part of the program, bank’s clients took up the opportunity to use letters of credits with post-financing in Belarusian roubles, confirmed by Belarusian banks, as an instrument for settlements between the parties.
Source: ELEKTRONIKA BANK PRESS SERVICE, December 21, 2006
