Russian Microfinance Center


Mikhail MAMUTA

Petrovka str., 15/13
Building 5, office 500
107031 Moscow – Russia
Tel: ++7 - 495 258 87 05
Fax: ++7 - 495 258 87 09
Contact us

www.rmcenter.ru

The Russian Microfinance Center (RMC) was established in July 2002 in response to the need for an organization representing and advocating the interests of the entire microfinance community. Its mission is to promote a strong and sustainable microfinance sector in the Russian Federation, facilitate access to financial resources for SME and low-income people, create jobs and improve the living standards of the poor.

 
The RMC’s longstanding efforts have received the support of internationally recognized charities and development organisations. In cooperation with these, the RMC delivers an annual charitable award "Russian Microentrepreneurship Contest" and manages a scholarship fund for Russian MFIs and low-income households. It also offers training programmes on financial literacy for the aforementioned target group.
 
The RMC serves as a resource centre for Russia’s microfinance industry and as a national forum through its interaction with the government, the public, and investors; it advocates in favour of an enabling legal environment for microfinance; offers training and professional consulting services to microfinance institutions, and promotes national microfinance standards.
 
The RMC sees its role as promoting the development of the entire Russian microfinance market and consequently, all types of microfinance providers. The Centre achieves this by working in five main areas: improve the legal and regulatory environment, taking into account the needs of all legally established forms of microlending; develop the industry support infrastructure to facilitate training, promotion of effective methodologies, and involvement of institutions in the sphere of microfinance; develop national microfinance standards and promote transparency and investment attractiveness of the industry; facilitate information exchange to create a shared information space for microfinance in Russia; organize National and International Microfinance Conferences; promote social and economic development by supporting microfinance programs in the regions.
 
The RMC’s key partners include bank associations (the Association of Russian Banks, the “Russia” Association of Regional Banks), credit cooperative associations (the National Union of Organizations for Mutual Financial Assistance, the League of Credit Unions), business associations (the Russian Chamber of Commerce and Industry, OPORA Russia), and academia (the Higher School of Economics, the Academy of National Economy under the RF Government, the Academy for Management and Market). As of early 2009, the RMC served a total of about 600 banks and non-bank microfinance providers.
 
The Center actively engages with international organizations which share the RMC's strategic focus on microfinance as a development priority. These include CGAP, SEEP, USAID, Citigroup, DAI Int., the World Bank, EBRD, the European Union, Barrick Gold Mining, the European Microfinance Network (EMN), MFC, and many other key strategic partners.
 
The RMC Supervisory Board currently includes representatives of 24 major Russian microfinance institutions and their networks (associations), with a combined total loan portfolio of €205 million and about 240 thousand active customers.