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Afghanistan - Expanding Rural and Agricultural Finance


December 2009 - December 2012 

Program Web Site

Program Web Site:

Program Brief: English PDF 

The U.S. Agency for International Development (USAID) awarded WOCCU US$60.5 million to expand financial services in Afghanistan for three years. The Rural Finance and Cooperative Development (RUFCOD) program is designed to increase access to financial services primarily in southern and eastern Afghanistan through the development and expansion of Islamic Investment and Finance Cooperatives (IIFCS) or credit unions. Achievement of RUFCOD project objectives will improve the living conditions and livelihoods of cooperative members and greatly increase economic activities and employment opportunities in communities served by the program.

The program is also establishing the country's first national association for IIFCs to help them reach more small and medium-scale business owners, farmers and low-income households in underserved rural areas. The association will provide technical assistance and back-office support to the IIFCs as well as perform examinations and supervisory visits to maintain compliance with minimum performance standards. Over the course of the project, the association will develop a safety net consisting of short-term emergency loans to help the IIFCs with liquidity issues should they arise.

Recent Updates

Balkh IIFC member cropping and attending to his almond trees purchased with help from the IIFC

Project Statistics
Total Loans Outstanding = USD14 M
Total Assets = USD20 M
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Member StoriesPublicationsNational Credit Union Data
Credit Unions: 30
Members: 105,230
Penetration*: 1%
Savings (USD): 3 M
Loans (USD): 20 M
Reserves (USD): 2 M
Assets (USD): 25 M
*Penetration rate is calculated by dividing the total number of reported credit union members by the economically active population.
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