HAVANA, May 18. /TASS/. Cuba allows Russian banks to open subsidiaries, Russian Deputy Prime Minister Dmitry Chernyshenko told reporters on Thursday.

"Fourteen working groups, which are part of the intergovernmental commission, held meetings, where a broad range of measures was studied out in detail," Chernyshenko said.

For example, there was a discussion of how to create conditions for Russian businesses to operate in Cuba. This primarily involves creating opportunities for the Russian banking credit system to finance Russian projects here, he said.

"For that end, Cuba provides opportunities for Russian banks to open subsidiaries that will provide project financing for Russian projects on the territory of Cuba, which will allow for the development of the economy and ensure the return on investments," said Chernyshenko.