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Since the beginning of the implementation of the project Initiative on the development of the small and medium business enterprises on the North Caucasus more than 580 millions rubles were issued.


 25.09.2011 

On September 22, 2011 the Kabardino-Balkarian Business Incubator in Nalchik hosted the press-conference on the topic: «Crediting of small and medium business enterprises on the North Caucasus. This is a joint project of the European Bank for Reconstruction and Development and Russian banks with financial support of the European Union».

The RMC Business Development Director Nadejda Kim participated in the press-conference on behalf of the Russian Microfinance Center.

The interim results of the project «Initiative on the development of the small and medium business enterprises on the North Caucasus», implemented by the European Bank for Reconstruction and Development with financial support of the European Union were discussed at the press-conference.

The preparatory work on the project has been held since 2006. In October 2008 the agreement between the EU / the representative of the European Union in Russia («Donor») and the European Bank for Reconstruction and Development was signed. Within the framework of implementing the agreement conditions the EBRD allocated 4.5 millions euros for the implementation of the Corporate Financing for SME Component on the North Caucasus. Also, the partnership agreements were concluded between EBRD and the leading bank and non-bank organizations.

During the process of deep analysis delivered by the RMC, the partner of the LFS Financial System and the EBRD on this project, it was set that the potential of finance for SME enterprises on the North Caucasus is limited relative to their number. At the same time the absolute majority of SME organizations showed the lack and narrow spectrum of offered and available financial services, which confirms their necessary future development in the region.

The Program of Technical Support (TS), implemented by LFS, was aimed at the implementation of consultative help on SME crediting development, with a goal to assist the participating commercial banks and non-bank organizations to reinforce their performance in the sphere of SME crediting and approach more broad spectrum of SMEs in the region.

During the process of the project implementation the following results were achieved:

· The SME credit program was successfully implemented in 3 Republics of the North Caucasus (North Ossetia-Alania, Kabardino-Balkarian Republic, Stavropol Territory)

· The amount of the credits issued to the SME representatives – 924 items.

· The amount of the credits issued during the whole period of the project – 582,7 millions rubles.

· Credit portfolio - 541,8 millions rubles.

· 155 credits on the amount of 94,5 millions rubles are issued on an average per month.

· 18 credits specialists work within the framework of the project.

· More than 80 employees of banks participated in the trainings.

With any questions you may contact the RMC Business Development Director Nadejda Kim at: nkim@rmcenter.ru.


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