$150,000 WFCU Grant Helps 464 Ukrainian Farmers Acquire Needed Agricultural Equipment
Purchase of more than 1,000 farm implements financed through an initiative facilitated by the USAID/WOCCU CAP Project
23 January 2024
KYIV, Ukraine—A $150,000 grant program funded by Worldwide Foundation for Credit Unions' (WFCU) Ukrainian Credit Union Displacement Fund and facilitated by the USAID/World Council of Credit Unions (WOCCU) Credit for Agriculture Producers (CAP) Project in early January helped 464 Ukrainian credit union member farmers finance the purchase of new agricultural equipment.
The two-year anniversary of Russia’s full-scale war in the country approaches with Ukrainian farmers having faced various challenges, including a lack of fuel, blocked exports and rising inflation. Those obstacles make farming more burdensome and less profitable, especially for small agricultural producers.
The $150,000 grant allowed credit unions to support small- and medium-sized farmers, a key membership base, by co-financing the purchase of agricultural equipment and tools to ensure they can continue producing crops and feeding their communities.
As a result, 464 agricultural producers purchased over 1,000 thousand tools, including a mini tractor, hay baler, cultivator and sowing machine.
“I would like to sincerely thank Worldwide Foundation for Credit Unions and the CAP Project for understanding the hard work of rural people and providing me with financial assistance to purchase the equipment I need to prepare wood for heating a greenhouse, where I grow vegetables,” said Volodymyr Metla, a farmer from Chernihiv Oblast and member of Credit Union “Koriukivska”.
Since February 2022, WFCU has raised over $1.8 million through its Ukrainian Credit Union Displacement Fund, implemented seven relief programs and launched three early recovery programs totaling nearly $1.5 million that have focused on providing assistance to Ukrainian credit unions and their members in wartime. For more information, please see the WFCU Relief Results report.
To donate to the Ukrainian Credit Union Displacement Fund, click here.
World Council of Credit Unions (WOCCU) is the global trade association for the credit union movement, advancing cooperative finance worldwide. Through advocacy, education and more than 300 technical assistance programs in 90 countries, WOCCU advances financial inclusion and strengthens cooperative finance across diverse markets. Globally, more than 67,000 credit unions across over 100 countries serve more than 412 million people and hold over $3.8 Trillion (USD) in assets. Learn more at www.woccu.org.
Organization: World Council of Credit Unions
E-mail: lstanislawski@woccu.org
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