Non-commercial foundation for
enterprise restructuring and
financial institutions development (FER)
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:
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:
Committee for management of the Northern
Restructuring Pilot Project.
Committee for management of the Sustainable
Forestry Pilot Project.
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
All the decisions by the Committee are mandatory for
the Foundation within the limits of a given project.
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:
Group of the Northern Restructuring Pilot
Group of the Sustainable Forestry Pilot Project.
Group of the Regional Fiscal Technical Assistance
Group of the Treasury Development Project.
Group of the Capital Market Development Project.
The FER project groups conform to the following basic
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;
The general departments are in charge of the
support to the design department operations;
elaboration of legal issues and development of
legal documents required for preparation and implementation of World
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: