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Seventh Annual Contest "Russian Citi Foundation Awards for Microentrepreneurship"


The National Partnership of Microfinance Market Stakeholders (NAMMS), Russian Microfinance Center (RMC) and Citi Foundation announce that the applications for the Seventh Annual Contest "Russian Citi Foundation Awards for Microentrepreneurship" are accepted. 

The Contest is a part of a global program of encouraging small business achievements, delivered by the Citi Foundation in 28 countries all over the world. This year the prize fund was increased and exceeded 800 000 roubles. The awards are bestowed to the winners for further development of their business. «Our experience in developing countries verifies that namely microentrepreneurship may become one of the most efficient ways of struggling with poverty. However, in Russia the microentrepreneurship development pursue a more important goal – the entrepreneurship culture development, out of which the qualitative breakthrough in modernization and diversification of the economy is impossible» — Denis Denisov, the Public Affairs Manager of the Citibank Russia said.

During six years more than 750 nominees from various regions of Russia participated in the contest.

They are the entrepreneurs who managed to create their own socially significant business on the basis of microloans, as well as most efficient microfinance organizations and professional experts.

The success of the Contest during these years shows that small business has huge potential.  

«When we see effective projects, implemented by the entrepreneurs with support of microfinance institutions, we understand that the entrepreneurship practically is becoming one of the propulsions of Russian economy. The contest goal is to increase as much as possible the amount of successful, creative, talented people, who implemented their creative potential in small business», - Mikhail Mamuta, NAMMS and RMC President noted. This year the organizers decided to add one more nomination «Woman initiative in entrepreneurship».

The applications for participation in the contest are accepted between August 1 and December 30, 2011.


The Contest documentation is published at the Russian Microfinance Center website:

With any questions concerning the Contest, please, contact the Contest Coordinators at the Russian Microfinance Center - Yelena Zakarzhevskaya or Olga Zharkova at:

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