Nataliya Tropman in her hazel garden

Russia’s full-scale invasion has affected all businesses in Ukraine, making some industries irrelevant and unprofitable, including the tourism sector. 

With much lower demand for travel, Nataliya Tropman, owner of a travel agency in Chernivtsi, realized she needed to diversify her business activities to generate a decent income.

She decided to use a hectare of land she owns in Chernivtsi Oblast to plant a hazelnut garden, after a market analysis showed high demand for hazelnuts in the local market.

To bring this idea to life, Nataliya learned the ins and outs of hazelnut growing. It required the installation of a drip irrigation system, which she could not afford. Natalya turned to her credit union for a low-interest loan, allowing her to plant her hazel garden. She is now planning to harvest her first 500 kilograms of yield in 2024.

Credit unions in Ukraine often lack the ability to offer affordable financing, and face high demand for such services. Thanks to participation in the US $500,000 Resilience Initiative, a liquidity support program launched in 2023 by the USAID/WOCCU Credit for Agriculture Producers (CAP) Project and Worldwide Foundation for Credit Unions, 14 Ukrainian credit unions can now offer and disburse cheaper loans to agribusinesses and MSMEs.

To date, over 100 loans have been disbursed for a total of more than US $500,000 under this initiative.