OREANDA-NEWS. February 6, 2008. Tallying results from 2007, Bank Electronika’s Executive Vice-President Mikhail Olshansky, who oversees the Bank’s work in CIS countries, termed organization of corporate borrowing in Russia for a business from the Republic of Belarus the most significant event of the year in his area of work. In a unique project, Bank Electronika was organizer, underwriter, and paying agent for the bonded debt of Belarusian trading company Polesie.

Bank Electronika acted as organizer for Polesie’s bonded debt in May 2007. The trading company is the first Belarusian business to enter the capital debt market in Russia. The 500-million-ruble borrowing was placed in the MICEX securities market.

“This is unique; it is the first Russian-Belarusian investment project of its kind. Bank Electronika even outstripped the Ministry of Finance of the Republic of Belarus. The ministry is preparing for government borrowing in the Russian market only this year,” Olshansky reported. “We anticipate that in 2008, with Bank Electronika’s assistance, other Belarusian issuers will come into the Russian debt market. We expect to see government enterprises and ministries of the Republic of Belarus among them.”

Still another result of Bank Electronika’s growing influence in the financial sector of the Republic of Belarus, according to Mr. Olshansky, was credit from the Bank to the Minsk-based company Horizont. The bank extended $5.5 million in credit to Horizont, one of the largest producers of televisions and consumer electronics in Europe.

“We believe that Bank Electronika has decisively taken its niche in the Russian-Belarusian business community and holds the reputation of a bank that tangibly contributes to the flow of investments to the economy of Belarus,” Mr. Olshansky declared.