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Home / Publications / E-Bulletin / 2005 |
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E-Bulletin, April 2005
Banking Society and World Bank Support Further Development of Microfinance
On 28 -29 April 2005 'Improving Access to Finance in South Federal District' Conference was held in Sochi under support of Krasnodarsky Kray Administration. This conference was organized by World Bank and Regional Association of Regional Banks 'Rossiya'.
In the framework of the Conference close attention was drawn to the issues of microfinance development. It illustrates the importance of this issue to international society, banking sector, and government officials.
For more detailed information about the Conference, list of participants, and for the Final Resolution, please, use this link
VI Conference of SME Representatives: Financial Support of Entrepreneurs' Initiatives
On 26 April 2005 in Russia's Chamber of Industry VI All-Russia SME Representatives Conference was held. The theme of this Conference was 'Small Business as an economic base for further local self-governing growth'. Over 270 delegates representing 60 regions of Russia attended the event. In the framework of the Conference RMC in cooperation with Association of Russian Banks and Association of Regional Banks 'Rossiya' prepared and conducted 'SME Financial Support' Section. It was focused on further development of current legal base for SME lending, banks' microlending programs, and microfinance development. Anatoly Aksakov, RF Duma deputy, reported that RF Duma Committee on credit organizations and financial markets had developed a set of legislative initiatives for the development of SME lending mechanisms. It will be considered by RF Duma in the nearest future.
Final Resolution summarized session's participants' decisions. Full text of the Resolution can be found through this link
Conducting International Year of Microcredit
In the framework of conducting International Year of Microcredit the RMC and 'Business for Everyone' magazine entered into a partnership agreement. Under its provisions the magazine will be publishing 'International Year of Microfinance 2005' section throughout all the year of 2005. In 2005 several panel sessions will also be held in Central House of Entrepreneur. First was held on 8 April 2005 - 'SME Financial Support in the Year of Microcredit'. Among its participants were Russia's Ministry of Economic Development and Trade, RF Federal Council, Sberbank, Vneshtorgbank, League of Credit Unions, RMC, and other organizations. They discussed SME financial support including support by the means of credit cooperation development and system of Funds for SME Support. Based on results of this session 'Business for Everyone' has published an article 'Small Business in the Year of Microcredit'.
If you are interested in opportunity of publishing information about your organization in 'Business for Everyone', share your experience in implementing microfinance programs, or participate in panel discussions, please, contact Rigo Ovchiyan, RMC Business Development Director, at rovchiyan@rmcenter.ru. More information about the project and conditions for participation can be found through this link
Regional News
On 5-6 April 2005 a seminar covering major issues on adaptation of WOCCU PEARLS system of standards was held in Dubna. This system is aimed at measuring Russian credit cooperatives performance. The following specialists attended the seminar - Olga Grosberg, St. Petersburg, Finance and Economics Department of Credit Unions Service Center, and Yekaterina Korsunskaya, Executive Director of 'Kassa Vzaimnogo Credita' credit consumer cooperative. This meeting resulted in adjusting Parties' working plan aimed to elaborate a set of indicators for Russian credit cooperatives financial performance.
Rating System for Russian MFIs
Considering growth of interest to microfinance sector from banks and other commercial investors, rating system for MFIs development is one of the most important issues in the context of Russian microfinance institutions development strategy. Applying such system will enable Russian MFIs to attract commercial capital.
Admitting the fact that rating programs are not well-spread in Russian microfinance market, RMC has started negotiations with leading rating agencies on implementing their rating programs in Russia. It is planned that Russian MFIs will be able to partially compensate the costs of rating through CGAP Rating Fund.
For more details you may contact Mikhail Mamuta, RMC Director, at mmamuta@rmcenter.ru.
First Russia's Chamber of Industry Subcommittee on Microfinance Development Meeting
First Subcommittee on Microfinance Development meeting was held on 19 April 2005. Over 30 representatives of microfinance sector, policy makers, and government authorities attended the event. Participants of the meeting decided that Russia's Chamber of Industry may provide considerable support in developing favorable legal environment for microfinance as well as may contribute to creating better legal conditions for regional MFIs. Particularly, according to working plan Subcommittee plans to hold minimum 3 events in Russia's regions in cooperation with regional Chambers of Industry and successfully operating MFIs that will focus on issues of launching microfinance programs.
For more information on Subcommittee's work please contact Mikhail Mamuta, RMC Director, Head of the Subcommittee on Microfinance at Russia's Chamber of Industry Committee on SME Development at mmamuta@rmcenter.ru.
Training News
To the date many Russia's regions demonstrate considerable growth of microfinance services. Regional and municipal microfinance programs have been developing in past few years. Leading SME Support Funds experience constant growth as well. However, without efficient system of delinquency management and pricing policy for microfinance services it seems somewhat difficult to reach sustainability. That is why simultaneously from two Russia's regions the RMC received applications to one of its most popular training programs - 'Delinquency Management and Establishing Interest rates'. On 1-4 April 2005 RMC trainers conducted corporative training for Khanty-Mansiysky Fund for SME Support, and on 6-8 April 2005 - corporate training for Ural SME Support Fund in Perm. Training methodology envisaged various interactive educational approaches: lectures, self-studying, team work, presentations, discussions, and summaries on new topics using previous experience, logical relation between sessions, various competitions, and creative work.
If you are interested to participate in any of the RMC training programs, please, contact Khalida Khusainova, Training and Consulting Director, at kkhusainova@rmcenter.ru.
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