With cooperatives playing an important role in supporting the Ukrainian economy since Russia launched its full-scale invasion in February, World Council of Credit Unions' (WOCCU) and two other cooperative associations took part in an October 4 meeting with top USAID officials about the role they can further play in Ukraine's eventual recovery and reconstruction.
WOCCU Senior Vice President of Advocacy and General Counsel Andrew Price and Credit for Agriculture for Producers' (CAP) Project Chief of Party Ewa Sierzynska joined representatives from NCBA CLUSA and COOP Ukraine in discussions with Mark Simakovsky, Deputy Assistant Administrator, USAID Bureau for Europe an Eurasia, and other key USAID staff.
WOCCU has been implementing the USAID-funded CAP Project in Ukraine since 2016, with the goal of strengthening the Ukrainian credit union market to help expand access to agricultural credit. As of June 2022, CAP and its' partners extended 16,438 agricultural loans.
The CAP Project also works with the National Bank of Ukraine and members of parliament to improve the operational environment for credit unions in Ukraine and supports WOCCU member credit union associations to better advocate for the interests of credit unions and their members.
Since February 24, 2022, Worldwide Foundation for Credit Unions has worked in coordination with the CAP Project to provide support to Ukrainians fleeing the violence of the war, while providing farmers with financial support in repaying agricultural loans disbursed by credit unions.