At the end of 1999, the Women and Public Policy Program launched a two-year initiative called Banking on Russian Women. The project s purpose is to conduct a feasibility study with the goal of setting up a sustainable microfinance institution to serve low-income Russian women, enhancing their economic security and stability.
Women form the backbone of the family structure in Russia.
In these poor families, the woman generally manages the family finances. As income increases, disposable income for the family flows through the hands of women, who often bear the responsibility for deciding how income is spent. This research produces a wealth of information to apply to the second stage of the project. This first stage was completed in September 2000. In the second year, work is devoted to research in Russia and development of a viable business plan for a possible future microfinance institution in Russia based on the findings of the first year s work.