USAID Ukraine Highlights Success of Joint Liquidity Fund with Worldwide Foundation for Credit Unions2022-06-07
Russia’s brutal invasion of Ukraine has created severe hardships for the country’s farmers, but they remain resilient and determined to deliver this year’s harvest.
Since the start of the war, USAID has helped 115 small agribusinesses obtain loans from credit unions totaling UAH 12.6 million (approximately $430,770). The loans are provided by Ukrainian credit unions and backed by a $1 million liquidity fund established in 2021 by USAID and Worldwide Foundation for Credit Unions.
The majority of the loans disbursed during the war are supporting the sowing campaign in Dnipropetrovsk, Cherkasy, Rivne, Khmelnytskyi, Ternopil, Lviv, Ivano-Frankivsk and Zakarpattia oblasts.
“Maintaining food supply chains for Ukrainian citizens is task number one today,” said the leader of a Ukrainian credit union supported by USAID. “In these difficult times for our country, together with international partners, we are doing our best to help our members, especially farmers.
This post was written by USAID Ukraine and originally appeared in a June 3 post on the mission's Facebook page.