1. Introduction to ROI Project by FAIR CREDIT HOUSE IFN S.A. Romania EMN Conference “New Product” Workshop Milan, 4th June 2009

2. OBJECTIVES  To briefly present current products / services;  To present new services in microfinance programs;  To discuss how such programs could grow in the future;

3. Introduction  Why did the organization decided to start new services?  Why did we select these specific services? On which ground?  How did we introduced such services?  How have our clients been involved in the start of such services?  What are the main results so far?  What has been the impact of such services on our microcredit activities?  What are the perspectives?

4. Introduction  Brief history of the presenting organization;

5. Our organisation  FAIR CREDIT HOUSE IFN S.A. – microfinance organisation registered with the National Bank of Romania in June 2008  Private capital  Executive team – experience with microfinance programmes

6. Services  Microfinance for MSMEs  Consultancy and assistance  Training  Accounting services

7. Microfinance activity  Target group: Loans were disbursed starting with August 2008, mainly for rural areas, to SMEs and private farmers  Credit specifications: max.5-year loans for investment, collateral requested for loans bigger than 10,000 Euros, flexible reimbursement schedule

8. Microfinance activity  Average Loans amount: about 14,000 Euros  Average loans term: about 26 months  No defaults and profit registered end year 2008

9. The ROI Project  Initiative of a social solidarity co-operative in Bologna – La Piccola Carovana with the Bologna Municipality  Pilot Project for an Entrepreneurial Operative Return  Target group: people of Rroma origin and Romanian citizenship living in the Bologna area

10. FAIR’s role  Legal structure to grant and monitor micro- loans in Romania  Provider of services

11. Type of services  Microloans granted to families who want to return to Romania and start small business of their own (3-year loans, up to 6,000 Euros)  Consultancy and assistance for registration of small business  Training  Monitoring both credit return and small business development

12. Why? What’s new?  Project consistent with our overall objectives  Special interest in activities carried out by co-operatives  What’s new: the social dimension of the project

13. Selection of services Introduction to clients  Types of services - agreed with the Italian partner  Selection of potential clients – made by the Italian partner  Once in Romania – a FAIR officer in charge with the client relationship

14. Results so far  Two micro-credit granted in May  - 4,440 Euros – small vegetable farm equipment  - 3,330 Euros – cattle, horse and cartridge  Perspectives for 2009: 5 families to be assisted

15. Impact on our current activities  Project requiring extra work as compared to mere credit granting and monitoring  Rewarding in terms of social and economic re-insertion of rroma families in rural communities

16. Perspectives  Increase of the number of beneficiaries  Good practice model followed by dissemination