For
successful implementation of the program done a lot of organizational
work to develop the mechanism of its action: adopted the Memorandum of
Understanding, in amendments to the Articles of Association of the
Development Fund of rural credit cooperatives, to develop guidelines for
the work of the credit cooperatives formed Program Management Authority
- Supervisory Board, consisting of Representatives and U.S. sides. From
the side of the Supervisory Board includes representatives of the
Association of Agricultural Cooperatives and existing rural credit
cooperatives, from the U.S. - the company representatives ACDI / VOCA. In
short order the Foundation to organize the work, ranging from filing
individual applications to agricultural producers and processing of
documents for the provision of loans. To date, the U.S. program is accredited 43 credit cooperative of 20 regions. From 1999 to 2003. issued loans worth 453.5 million rubles., including in 2002 - 207 million rubles. By the Fund financed current activities of nearly 3,000 shareholders. In
2002 about 55.7% of loans were in country (farmer) economy, 22.4% - in
private farms of citizens, 14.1% - for agricultural cooperatives, and
7.8% - in rural entrepreneurship. Loan period is from 3 months to 1 year (27, p. 14). Today,
the amount of credit that can get credit, rural cooperatives, may not
exceed 5% of the program funds, which is about 10 million rubles. The
maximum loan size is a natural or legal person - a member of the rural
credit cooperative, with no credit history, can not exceed 250 thousand
rubles. Later, in the event of timely repayment of loans, the amount of a loan can be increased up to 500 thousand rubles. Loans are granted at market rates (19-21%), the value of which depends on the borrower, the loan term, purpose and security. Repayment of loans in 2002. was 99.9%. Along
with the financial support of the Foundation is providing technical and
advisory support to rural credit cooperatives, training personnel for
credit cooperatives. Such an integrated approach to the implementation of the American program has given tangible results. Today
each of the accredited cooperatives significantly improved its economic
performance - a mutual fund, the number of members, the number of loans
increased by 2.5-3 times. It
is these cooperatives are leading the development of credit cooperation
in the region, the confidence of administration and work to create a
system of rural credit cooperatives in the region.
Credit Union
