USAID approved in August 2020 an extension of the CAP Project through March 2023.
In Ukraine, only large agricultural producers have full access to financial investments in the agricultural sector; as a result, small and medium-sized farms and individual entrepreneurs generally remain outside the financial system and are unable to obtain affordable credit. In this context, credit unions (CUs) are the only source of funding for small farmers and agricultural producers. Yet, CUs in Ukraine need support to strengthen their capacity and meet members’ needs, especially since the CU sector has lacked reform for more than 25 years.
The Credit for Agriculture Producers (CAP) Project began as a four-year project (2016-2020) funded by USAID and implemented by World Council for Credit Unions (WOCCU). In August 2020, USAID extended its funding for the project through March 2023.
The purpose of the project is to improve access to agricultural credit via CUs by improving their legal and regulatory framework, strengthening their two CU national associations, and building capacity of CUs to better serve their members and meet credit needs. To achieve its objectives, the CAP Project, with support of international credit union experts and volunteers, works closely with the National Commission on Regulation of Financial Services Markets (NCSRFSM) and the two credit union associations: The All-Ukrainian Credit Union Association (AUCUA) and Ukrainian National Association of Savings and Credit Unions (UNASCU).