MFOs hold competition to select the best socially important project

On 1 September 2017, the competition held by microfinance organisations to select socially important projects starts accepting applications. The competition is aimed at searching for, encouraging and promoting positive practice in the microfinance market thus helping to improve the quality of life among the population and support the sustainable development of the socio-economic environment in the Russian regions.

The competition organisers include self-regulatory organisations (SROs) of MFOs, the National Association of Microfinance Market Stakeholders (NAMMS), and the Russian Microfinance Centre (RMC). The Bank of Russia will provide information and expert-based support throughout the competition.

The deadline for application submission is 17 September. The competition committee will then select winners in six nominations:

• ‘Best Socially Important Project by a Microfinance Organisation’;
• ‘Best Charity Project by a Microfinance Organisation’;
• ‘Best Project by a Microfinance Organisation for Enhancing Financial Literacy among MFO Customers’;
• ‘Best Project by a Microfinance Organisation for Improving Financial Inclusion’;
• ‘Best Project by a Microfinance Organisation for Small and Medium-sized Businesses’;
• ‘Best Project by a Microfinance Organisation for Welfare Beneficiaries and Most Vulnerable Groups of the Population’.

Alongside this, the event will offer two motivational nominations: ‘Best Success Story of an MFO Customer – Representative of a Small and Medium-sized Business’ and ‘Best Success Story of an MFO Customer – Individual’.

Competition winners will be awarded honorary diplomas and gift certificates for various business services provided by the event organisers and sponsors. The award ceremony will be held in Moscow on 3 October 2017 as part of the MFO Russia Forum.