It is a part of COUNTERPART ENTERPRISE FUND (CEF) strategy for the next three years to increase sustainability of the organization by expanding operations to other areas of the Russian Far East. Collaboration with Dalcombank leveraged the development of this opportunity and CEF chose Bikin Area as the site for the start of the expansion. Bikin is a small provincial town 200 km away from Khabarovsk, located right on the boarder with Primorskiy Krai. It’s general population is around 20 thousand people. The Governemnt of Khabarovskiy Krai strongly supported CEF’s desire to work in the area and provided a targeted credit of $70,000 to finance the initial loan portfolio for Bikin entrepreneurs. CEF team found and trained a representative, provided her with necessary office equipment and marketing materials. Dalcombank leased CEF a small office, provided a telephone number.

Due to successful work, during 3 months of operations CEF representative developed a loan portfolio of 20 loans for the amount exceeding $180,000. As a result, more than 50 jobs were created and sustained in the area. CEF’s good work was highly recognized by the Administration of Bikin Area, which provided a letter of support for the Government of Khabarovskiy Krai to increase the financing of the Fund. Based on experience in Bikin, CEF team worked out the technology of lending through distant representative and will apply these skills in other areas of RFE.