OREANDA-NEWS. April 11, 2008. In March 2008 Bank Electronika and Nova Ljubljanska banka (Slovenia) began the next phase of their partnership. Under credit agreement, the institutions have prolonged financing of an investment project in Zheleznovodsk.

Construction of a rehabilitation center in Zheleznovodsk is being carried out under an international contract between RosmedservisPlus and Kovinatexna MKI (Slovenia). The bank-partners have released the latest tranche in financing for the project, 2.44 million euros. In sum, more than 7.8 million euros has been attracted for the center. Bank Electronika has extended an irrevocable unconfirmed letter of credit for the benefit of Kovinatexa to support settlements for work completed. That letter of credit is for approximately 2.76 euros.

Vladimir Zobnev, Chief Executive Vice-President of Bank Electronika, remarked: “This is one more important step in consolidating partnership with foreign banks to attract financing for substantial investment projects of the Bank’s clients and to increase the amount of banking services for tied credit. The transaction will finance new technical solutions – expansion of therapeutic services and broadening the number and comfort of accommodations – that are part of the project to construct the rehabilitation center.”