About us

Consumer cooperative CC “Republican Microfinance Center”

Consumer cooperative CC “Republican Microfinance Center” (hereinafter – RMC) was registered by the Minsk City Executive Council (reg. No. 191114508) on April 6, 2009 as a non-for-profit NGO and presently unites 9 organizations. RMC members support SME and entrepreneurs providing financial, consulting, educational services and working in their interests. 

Mission of the RMC is to foster the development of a strong and self-sustained microfinance sector in Belarus in order to facilitate access of small business and low-income people to financial resources, promote self-employment and improve living standards of poor population.  

RMC is a partner of Microfinance Center for CEE and CIS -- MFC (Warsaw) and has a Partnership Memorandum with National Bank of Republic of Belarus and partnership agreements with Association of Belarusian Banks, Belarusian Fund for Financial Support of Entrepreneursю

In 2013-2015 RMC was elected as a Chair of the International CIS Microfinance Council, which includes Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, Tajikistan.

CC “RMC” actively cooperates with state authorities, such as National Bank of Republic of Belarus, Ministry of Economy of Republic of Belarus, Ministry of Labor and Social Protection of Republic of Belarus, Regional and Cities Executive Councils; local village councils, NGOs, SME support infrastructure and business incubators, educational institutes, international organizations.

CC “RMC” aims at developing microfinance sector as a whole, i.e. all types of organizations rendering microfinance services, including microleasing. To fulfill this it works in compliance with 6 major directions:

• developing the sector support infrastructure, such as training personnel, introducing effective technologies, including the more number of organizations into the sphere of microfinance;

• forming national microfinance standards;  

• improving legal environment taking into account interests of all forms of microfinance; 

• organizing an informative exchange in order to create a single informative space for microfinance in Belarus and include it into international microfinance and microcrediting systems; 

• population financial and entrepreneurial literacy training;

• providing financial resources to Belarusian MFIs and to population through its members.

Since 2014 RMC has been implementing International Technical Assistance Project "Increasing Access to Finance for the Rural Population in Belarus" (hereinafter the Project) with support of USAID (the Project is registered by Ministry of Economy of Republic of Belarus in the international technical assistance programs and projects database on 06.08.2013 г. №1/13/00620).

The project is aimed at broadening the economic opportunities of the rural population in Belarus through improving their access to credit, raising financial literacy, and strengthening entrepreneurial skills. The project activities support microenterprise development in rural areas of Minsk and Brest regions of Belarus and facilitate policy and regulatory environment improvements for microfinance. The project increases investment opportunities in rural areas, supports rural microenterprises’ role in supply chains, expands rural development, and facilitates economic growth by supporting private enterprise and entrepreneurship, as well as contributes to an increase in household incomes and strengthen and revitalize the rural communities.

Project implementation period: 2014-2019

Budget: $1,475,000

 

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