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E-Bulletin, February 2007
 E-Bulletin, February 2007 — Download >
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Further Cooperation between United Way International and Russian Microfinance Center
On 13 February 2007 the RMC President Mikhail Mamuta and the United Way International Director of Donor Programs Mila Medina signed an agreement to implement the second stage of the project aimed at the institutional development of microfinance in RF. At the expense of the Citigroup Foundation means amounting to the sum of $100 000 USD, they plan to develop new mechanisms and instruments for the microfinance sector development. For instance, to develop new training programs on several topical themes; to create a system of distant education; to raise transparency and attraction as an investment of the Russian microfinance sector by promoting the rating institutes for MFIs and their participation in the international benchmarking program.
Please, contact the RMC Executive Director Boris Tkachenko at btkachenko@rmcenter.ru to receive detailed information about the directions of program implementation. Follow also the further announcements on the RMC web-site http://www.rmcenter.ru.
New Cooperation Agreement between Microfinance Information eXchange and Russian Microfinance Center is signed
On 14 February 2007 RMC and the Microfinance Information eXchange (MIX) signed a new cooperation agreement. Within the framework of this agreement Russian microfinance organizations have an opportunity to participate in the program «Benchmarking for Russian MFIs» aimed at complex improvement of transparence system in microfinance, as well as easier attraction of outside financing and enforcement of trust of the clients and partners of the MFIs. Information about the program participants – MFIs and banks – will be published on the global information exchange http://www.mixmarket.org and will contain both main data about separate organizations and microfinance profile of Russia on the whole. MIX Market is universally acknowledged among donors and investors who are performing microfinance programs. This fact simplifies the interaction of interested organizations and attraction of necessary funding.
Please, contact the RMC Vice President Rigo Ovchiyan at rovchiyan@rmcenter.ru with questions concerning participation in the program «Benchmarking for Russian MFIs».
The Results of the Meeting between the Consultative Group to Assist the Poor and Russian Microfinance Center
On 14-15 February 2007 RMC President Mikhail Mamuta met the directorship of the Consultative Group to Assist the Poor (CGAP): Managing Director Elizabeth Littlefield, CGAP Programs Manager on Central, Eastern Europe and the CIS countries Martin Holtmann, and Legislation Programs Director Timothy R. Lyman. The parties discussed the situation from the point of view of the perspectives of new financial mechanisms for the disadvantaged population development, micro and small business in Russia and all over the world, and also the plans of future cooperation. Following the results of the meeting, the parties agreed to implement together the project aimed at the development of the effective all-inclusive financial system in Russia with due consideration of best global experience and particularities of the Russian financial market.
Within the framework of the project the parties will cooperate in such spheres as the non-commercial microfinance regulation improvement, non-bank deposit-credit organizations’ performance, programs of interaction between banks and MFIs, and also the technologies of branchless banking development.
In addition, new grant program on innovative financial technologies development in microfinance will be announced in March.
Please, contact the RMC PR and IT Specialist Asya Kamenskaya at akamenskaya@rmcenter.ru to receive detailed information about the program.
II-d Forum of Russia Credit Unions
On 26-27 February 2007 the II-d Forum of Russia credit unions was held in Belokuriha, Altaj region. About 200 representatives of credit cooperatives and their regional associations all over Russia participated in the Forum. Aleksey Savatuygin - the Director of Financial Policy Department of the RF Finance Ministry, Igor Bubnov – the Adviser of the Banking Regulations and Supervision Economic Department of the RF Central Bank, Anatoliy Yegorov – the Deputy Chairman Assistant of the Federation Council of the Federal Assembly of the Russian Federation, Boris Tkachenko – the Executive Director of the Russian Microfinance Center, David Richardson – the Technical Development Director of the World Council of Credit Unions (WOCCU), Vadim Kalinichev – the General Director of the League of Credit Unions, Valery Kasatkin, the Chairman of the League of Credit Unions Board, Director of the Association of Altay Credit Unions, Anatoly Kadrov – the Executive Director of the National Union of Organizations for Mutual Financial Support made substantial contribution to the Forum’s performance.
During the Forum the following sessions were held: «Discussion about the credit cooperation development program in Russia in 2007 - 2011», «Discussion about the draft law «Of the modifications to the Federal law «Of the credit consumer cooperatives of citizens», «Standards and regulation of credit consumer cooperatives performance. Russian and international experience», «Marketing. Members attraction strategy», «Financial norms of PEARLS –complex system fîr the evaluation of the credit cooperatives’ financial state», «Using program complex PEARLS fîr the evaluation of the credit cooperatives’ financial state and for building effective monitoring system within the framework of the credit cooperation system». This Forum resulted in the final resolution adopted by the conference participants.
Preparation of the VIII All-Russian Conference of SME Representatives and Forum «Russian Small and Medium Business Days-2007».
On 27 February 2007 the Federation Council hosted the second meeting of the united Organization Committee on preparation and delivery of the VIII All-Russian conference of SME representatives and Forum «Russian Small and Medium Business Days-2007».
The Board Chairman of the Russian Chamber of Commerce and Industry on private enterprise and SME development Viktor Yermakov and the Head of the working group on preparation of «Russian Small and Medium Business Days-2007», leader of exhibition programs of the «All-Russia Exhibition Center» Wadim Sayushev made presentations about the event organization during the meeting. They informed the listeners that the Conference and Forum programs are almost ready, that the Conference Managing Directorship created on the basis of Russian Microfinance Center is working, the exhibition exposition is being formed.
Viktor Yermakov also announced that on 17 May 2007 in Congress-Center of the Russian Chamber of Commerce and Industry a Russian-Chinese conference «China and Russia experience on SME development. Perspectives of business cooperation» will be held within the framework of the Chinese Year in Russia. Wadim Sayushev offered to invite the China SME representatives to participate in the Forum «Russian Small and Medium Business Days-2007» and also deliver within the framework of the Forum the contests: «Best innovation project», «Best in Russia, in Moscow and Moscow region», «Best SME products».
Dina Krylova, the Executive Director of the OPORA RUSSIA, offered to include in the Program of the VIII All-Russian conference of SME representatives on 16 May 2007 a section «Industrial policy on SME development in the context of Russia joining the World Trade Organization (WTO)».
The proposals of the meeting participants were supported by the Organization Committee. The next Organization Committee meeting is planned to be held in third decade of April 2007.
SME Support Fund «Counterpart Business Fond» (CBF) Declared that the Deal on Finance Attraction from BlueOrchard Dexia Micro-Credit Fund (Luxemburg) is Finished.
The means were provided for the portfolio enlargement of the small business in Khabarovsk region, Jewish autonomous region, and Primorski Krai. «We have been purposefully achieving the aim for two years», - says the CBF founder Aleksey Shumilov. «In the beginning of 2006 the Fund received an international rating, it was one of the main conditions of crediting. It is important for us to create a precedent, to start forming the Fund credit history on the international capital market, since the Far-Eastern MFIs have not had such experience before. At the same time the resources on the external market are considerably cheaper than on the Russian one. Accordingly, in the nearest future we will have a possibility to make our financial services more accessible for the entrepreneurs».
Training News
Training «Marketing in Microfinance: Loans and Savings»
From 5 till 8 February 2007 Russian Microfinance Center delivered the training «Marketing in Microfinance: Loans and Savings» in Cheboksaru, Russia.
The training participants received new knowledge about marketing, its components, and the methods of market investigation. They discussed the issues of MFI market investigation «clients-competitors», new product development, and marketing mixture.
The participants highly appraised the training form which consists of tests and team-work. They were pleasantly surprised by lots of tasks for solitary work. They pointed out that the training methods motivated listeners to creative approach towards the tasks, that the trainings were interesting and informative, and quotations from Confucius embellished them so nicely.
Please, contact the RMC Training Coordinator Yelena Zakarzhevskaya at ezakarzhevskaya@rmcenter.ru about enrolling in RMC training courses.
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