FER. Official Site

FER Information
FER  

Russian

Non-commercial foundation for
enterprise restructuring and
financial institutions development (FER)

FER Status

The Non-Commercial Foundation for Enterprise Restructuring and Financial Institutions Development, hereinafter referred to as the FER, was established under Regulation of the Government of the Russian Federation No. 582-Р dated 12 April 1996 and filed with the Ministry of Justice of the Russian Federation as a non-commercial organization on 5 July 1996. In 1997 the foundation was reorganized and the FER Charter was amended so as to allow the FER the possibility of managing several projects at a time. In this connection on 27 June 1997 the FER was re-registered with the Ministry of Justice of the Russian Federation.

FER Founders and Members

The Founders and Members of the Foundation, which under the Foundation Charter have equal rights and obligations, are: the RF Ministry of Finance, The RF Ministry of Economic Development and Trade of the RF, the National Foundation for Housing Reform, the International Center for Socio-Economic Reforms “Leontiev Center”.

FER Organizational Structure

The FER organizational structure is called upon to ensure a simultaneous effective implementation of several complex interagency projects financed from the funds provided by international finance organizations and comprises the following:

  • FER Board,

  • Project Management Committees,

  • Foundation staff.

Foundation Board

The Board of the Foundation is the highest governing body of the FER. The representatives of all Founders and Members of the Foundation are Members of the Board of the Foundation. At present the Foundation Board comprises 7 representatives of the Founders / Members.

The Board of the Foundation is in charge of the FER development strategy; approves the plans of the Foundation activities, the budget, the structure of the staff, the staff list, the tariff scale; adopts the decision on commencement of the Foundation activities under new projects, performs other functions as stipulated by the Charter. The Board of the Foundation, however, has no powers for decision-making on specific projects. Their management, in accordance with the Charter, is passed to the committees for the management of projects (Project Management Committees ).

Project Management Committees

Project Management Committees (hereinafter referred to as the Committees) are set up and run within the framework of the Foundation as decided by the Foundation Board. At present, the following Committees are operating within the structure of the Foundation:

  1. Committee for management of the Northern Restructuring Pilot Project.

  2. Committee for management of the Sustainable Forestry Pilot Project.

  3. Committee for management of the Regional Fiscal Technical Assistance Project.

A Committee performs general management of the project and monitoring of its implementation by the Foundation Staff. As a rule, the InterMinisterial Working Group, formed by the Government of the Russian Federation or by the relevant Ministry for preparation and implementation of the project acts as the Committee. Each Committee for management of the project has its own regulations, determines the order of work and assigns duties between the Foundation Staff and the Committee.

All the decisions by the Committee are mandatory for the Foundation within the limits of a given project.

Foundation Staff

The Foundation Staff comprises the project groups and the general departments.

The project groups are in charge of all functions relating to management of preparation and implementation of projects. Director of a design department, as a rule, is Manager of the group for preparation and implementation of the respective project. The heads of the project groups are accountable to Director General (on administrative matters) and also to the relevant Committee for management of the project.

The project groups include:

  1. Group of the Northern Restructuring Pilot Project.

  2. Group of the Sustainable Forestry Pilot Project.

  3. Group of the Regional Fiscal Technical Assistance Project.

  4. Group of the Treasury Development Project.

  5. Group of the Capital Market Development Project.

The FER project groups conform to the following basic requirements:

  • experience in preparation and implementation of the World Bank projects;

  • experience in interacting with the government agencies at the federal and regional levels;

  • experience in managing consulting contracts;

  • sufficient compactness.

The general departments are in charge of the following tasks:

  • support to the design department operations;

  • elaboration of legal issues and development of legal documents required for preparation and implementation of World Bank projects;

  • compliance with the World Bank requirements for procurement of goods, works and services;

  • financial operations related to preparation and implementation of the projects;

  • accounting and auditing in compliance with the requirements of the World Bank and the Russian law.

By servicing all the project groups and the general departments assure communication of experience and effective utilization of their specialists. They are accountable to Director General.

The general departments include:

  1. Management

  2. Procurement department.

  3. Finance department.

  4. Accounts department.

Address and requisites of the Foundation