Project Description
The project assists with business development in Magadan, a far
northeastern region of Russia that is heavily dependent on mining to drive
its economy. The overall objective is to improve the environment for
private sector development by extending the impact of the Canadian/IFC
investment in the mining industry of Magadan Oblast. Specific objectives
include: 1) increasing access to markets for small and medium enterprises
(SMEs); 2) raising the level of local management skills; 3) improving
access to financing for SMEs; 4) reducing administrative barriers and
improving the legislative base for business development; and 5) educating
and informing the public regarding the importance of the private sector.