Фонд развития малых предприятий Камурдж

Шаблон:Unitedt MDF-Kamurj (Microenterprise Development Fund Kamurj. Yerevan)MDF-Kamurj (Microenterprise Development Fund Kamurj) Address: 52 Erznkyan Street Yerevan, 375033, Republic of Armenia Phone: (374 1) 27 86 24, 27 86 25 Fax: (374 1) 27 43 10 E-mail: vgagik@arminco.com

Mr.Gagik Vardanyan Executive Director

Ms.Margarita Lalayan Program Coordinator

Microenterprise Development Fund Kamurj emerged by joining the efforts and resources of two microfinance programs created in 1998 by Catholic Relief Services (CRS) and Save the Children Federation Inc./US. This is a unique case of merger in the microfinance world, with the goal of creating a national professional microfinance institution (MFI). Kamurj (or "bridge" in Armenian) was officially registered as a local foundation in April 2000 and started its operations as an independent sole-purpose MFI in October 2000. The merger strongly promoted synergism, economies of scale, and expanding the geographic outreach that is necessary to reach financial sustainability.

MDF Kamurj's role in Armenia is both an economic and social intermediation; a process in which investments are made for human development and institutional capital that aims to increase the self-reliance of marginalized groups and prepare them to engage in formal financial intermediation. It is financial intermediation with a capacity-building component, aimed at the sectors of society that lack access to credit and savings facilities. Social intermediation involves the building of social capital in the form of groups that can generate an "information asse" for their members.

The vision of MDF Kamurj is to become Armenia's leading national microfinance institution providing long term and sustained access to credit, savings, other financial and business development services to poor microentrepreneurs in under-served rural and urban markets.

Current activities MDF-Kamurj uses solidarity group lending methodology adapted to the Armenian context to provide affordable credit to its clients. Kamurj promotes short-term repeat loans, with weekly/bi-weekly repayments, that increase in size with each cycle. The group guarantee mechanism replaces traditional collateral required by banks.

It is focused on low-income family businesses, particularly on women micro-entrepreneurs and, among the microfinance operators currently active in Armenia, provides the smallest loans to women?s groups (starting from $40).

As of January 2003, MDF-Kamurj has 5,700 active clients with over $1,0mln portfolio outstanding. Currently, MDF-Kamurj provides microfinance services in the areas of Yerevan, Gyumri, Maralik, Vanadzor, Spitak, Sisian, Ijevan, Artashat, Ashtarak, Abovian, Masis, Ejmiadzin, etc.

The expansion of client businesses and the maturation of client/MDF-Kamurj relationships have generated demand for new types of products and heightened expectations about product quality and variety. MDF-Kamurj is currently looking for additional funding opportunities (mostly for a loan capital) and is developing plans to branch into new markets, particularly in rural areas. The challenge is to develop a set of products that are consistent with, and protective of, the mission and integrity of MDF-Kamurj values.

MDF-Kamurj is targeting to reach around 14,000 by 2005. Since November 2001 MDF-Kamurj reached its operational sustainability and in 2005 will reach the break-even point for financial sustainability.

             December 22, 2006 

Friday

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