The European Union Tacis Project Credit Cooperatives Russian Federation

Main Project Aims

Project Wider Objective

The overall objective of the project is to assist economic development through strengthening the growth of small business in the Russian economy by wider use of private financial resources. The project is aimed at the creation of sustainable tools and sources for the financing of individuals and small enterprises as well as at the improvement of existing lending structures, channels and conditions in order to help the transition and growth of the economy.

Project Purpose / Specific Objectives

Objective 1: To assist the Russian authorities to develop policies and a legal framework supportive of a multi-level credit cooperative system able to address rural SMEs' needs in terms of both credit volume and structure.

Objective 2: To strengthen institutional development of the credit cooperative sector in particular the relations between different levels through apex structures offering a range of services to members, self regulatory mechanisms for cooperatives financial management and capacity building facilities.

Objective 3: To mainstream urban and rural credit cooperatives towards sector management and operations common standards for sustainability.