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.
The project departments include:
1. Department of the Enterprise Housing Divestiture Project.
2. Department of housing policy and long-term projects.
3. Department of the Enterprise Support Project.
4. Banks Review Unit.
5. Department of preparation of the Northern Restructuring Pilot Project.
6. Department of preparation of the Sustainable Forestry Pilot Project.
7. Department of preparation of the Regional Finances Reform Technical Assistance Project.
The FER project departments conform to the following basic requirements:
- 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;
- sufficient compactness (not more than 4-6 specialists).