Staff Directory

Olga Tomilova

Senior Financial Sector Specialist

Olga Tomilova has been a consultant and adviser to CGAP since 2007. She works on CGAP’s Global Forum Project, engaging with standard-setting and other global bodies on financial consumer protection, and on the Sector Support Project, where she manages CGAP’s Cross-Border Funders Survey.

Olga has more than 20 years of experience in financial inclusion, microfinance, financial consumer protection, and responsible finance. She has extensive international work experience, particularly in Eastern Europe and Central Asia. Before joining CGAP, Olga managed the Central Asia Microfinance Center, a joint project of the Microfinance Centre for Central and Eastern Europe and the New Independent States (MFC) and CGAP in Kazakhstan. She was MFC’s manager of training and consulting. In addition, she was a researcher for Harvard University in Russia, the executive director for the Russian Women’s Microfinance Network in Moscow, and a finance management assistant for Opportunity International in Nizhny Novgorod, Russia.

Olga has a degree in History, Social Sciences, and Applied Sociology from Nizhny Novgorod State University in Russia, and a professional certificate in accounting. She is based in Moscow, Russia.

By Olga Tomilova

Blog

Microfinance in the ECA Region: Need to Sharpen Definitions?

In Eastern Europe and Central Asia (ECA) region a deep and growing divide between commercial, high-interest consumer finance and traditional social purpose microlending is emerging, and the confusion of the two in the eyes of the public.
Research

Landscaping Report: Financial Inclusion in Russia

This Landscaping Report on the state of financial inclusion in Russia is based on CGAP’s research conducted during April – September 2012.
Blog

Interest Rates: What Are the Lessons from Russia on "How Much Is Too Much?"

The situation in Russia and other countries is now leading us to want to revisit each of these factors, “deconstructing” the concept of “sustainable” interest rates and review factors, to see if this process sheds some light on whether any given interest rate can be considered responsible.
Blog

Interest Rates on Microloans in Russia: How Much Is Too Much?

Just as the dust settled after a controversial entrance of new players in the Russian microfinance sector about a year ago – those claiming themselves to be ”microfinance organizations” and yet charging 730% interest per annum, another “innovative microfinance” product has totally shocked visitors of the Russian Post, as reflected in a multitude of blogs and in numerous media articles published in recent weeks.
Blog

Eastern Europe and Central Asia: Predictions for 2012

The year 2011 was not particularly easy for microfinance institutions (MFIs) in Eastern Europe and Central Asia (ECA). What are some of the issues that will be key for the ECA microfinance sector in 2012?