News for the year 2004
• Becej, Decembar 10, 2004 - General Assembly of the MDF was held in Dunderski Royal. By this occation MDF members supported the change of the MDF Statut.
• Octobar/Novembar 2004: Micro Development Fund took steps towards decentralization and establishment of the regional offices, Nis and Uzice-Kraljevo as profit centars, in order to duetime respond to the expected extention of the operations. Following that, on each branch was transfered operational independance, while overall and financial management stayed under governance of the head office. Pilot-project of operational decentralization was started in regional office U˛ice at the end of 2003 and showed its effectivness, which led to already noted overall transferring of administrative operations and duties and responsabilities of direct operational management to the regional offices (which includes final credit selections, signing contracts, reporting, and administering of the Loan Tracking System (LTS).
• Brusel, September 21–23, 2004 - MDF Executive Director participated at European Microcredit Conference.
• Belgrade, September 2004 - UNHCR consultant finished institutional assessment of MDF, in order to evaluate the institutional capacity towards sustainability, and with a final aim to make decision on handing over funds. Consultant Ivana Damjanov from Global Microenterprise Initiatives GMI – Njujork, spent five weeks in MDF, of which three weeks she had extensive interviews with all employees. Her assessment of MDF, as young, since recently independent institution was more than optimistic and gave new strength and self confidence to all employees.
• Belgrade, May 21, 2004 - International Labor Organization (ILO) organized conference “Social Finance for Support Self-employment in Serbia” with a presence of Executive Director of MDF.
• Kragujevac, April 2004 - Cooperation with ICRC continued in 2004. Therefore, activities of MDF were expanded to the new municipality – Kragujevac, which hosts the largest number of IDPs (around 13.000), with a pretty limited access to banks and credit institutions. For that purpose, new position for Loan Officer was opened in Kragujevac, and Credit Manager of MDF held very attended press conference.
• Sarajevo, April 2004 - Executive Director of MDF attended International Conference “Toward Social and Economic Development” organized by CHF-International, Community Habitat Finance.
• Belgrade, April 21, 2004 - Presentation “Microfinance in Serbia” was held and organized by Ministry of Economy and Governor of the National Bank of Serbia.
• Belgrade, February 2004 - Micro Development Fund concluded Commission Contract with Commercial Bank in order to obtain legal framework for credit operations of MDF.
• Dhaka (Bangladesh), February 2004 - MDF representatives participated at Microcredit Summit of Asian region.
• Belgrade, January 2004: Micro Development Fund transformed its organizational form to the Citizenship Association. Therefore, as domestic legal entity MDF pays taxes and other obligations towards state as well as social benefits for the employees.
• Belgrade, January 2004: Audit Company “MGI Auditing & Accounting” controlled Financial Statements and Micro Loan Program of MDF for the period July 2002 – December, 31 2003, according to TOR set by UNHCR. Reconciliation of Loan Portfolio to the Balance Sheet and LTS was confirmed, as well as accuracy and completeness of Loan Portfolio and LTS indeed.
