Program and RMC
In September 2001, Development Alternatives, Inc. (DAI) and its partners,
Fund for Support of Small Entrepreneurship (FORA) and Alternative Credit
Technologies (ACT), were awarded a grant by the United States Agency for
International Development (USAID) to implement the Microfinance Sector Support
Program in Russia. The objective of the four-year program are to support the
development of a sustainable Russian microfinance industry through the creation
of a Russian national best practice microfinance center and to support the
growth and development of Russian indigenous microfinance institutions through
the Innovation Support Facility?Targeted Grants Program.
Russian
Microfinance
Center
Through its experience worldwide, including Russia, DAI will set up the
Russian Microfinance Center (RMC), a fully functioning microfinance service
center. The center will offer Russian non-bank financial institutions training,
financial and operational technical assistance, and other services on a full
cost-recovery basis. The RMC will operate according to sound business principles
and will seek to provide high quality, fee-based services to microfinance
institutions, while embracing all microfinance service provision models and
methodologies. Large or small, member based, or profit generating, all types of
microfinance institutions will have the opportunity to receive services from the
RMC. Specifically, the RMC will offer the following services:
Training: The RMC will provide general introduction courses for
individuals and organizations, as well as customized training
programs.
Directed Technical Assistance: Technical assistance will be
provided by local and international consultants to Russian microfinance
institutions in the areas of human resource development, financial management,
management information systems, new product development, and internal controls
as well as in other operational spheres.
Information Clearinghouse:
The RMC will collect, translate, and disseminate Russian and international best
practices studies, training materials, research papers, and information on
current legal and regulatory issues to its clients.
Benchmarking and
National Performance Standards: The RMC will take the initiative in setting
national performance standards for Russian microfinance institutions, drawing on
resources from within Russia and from international resources such as the
Microbanking Bulleting.
Other Information Services: The RMC will
promote networking and information exchanges between microfinance institutions
and other service providers in Russia.
Policy Support: The RMC will
cooperate with other microfinance institutions to facilitate the development of
a policy strategy supported by the broader microfinance community. This will
include monitoring the current environment and efforts to improve the
environment for microfinance over the long term as well as raising the profile
of microfinance before members of government, the broader business community,
and the general public.
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