WASHINGTON—CUNA is calling on the House Appropriations Subcommittee on State, Foreign Operations, and Related Program to ensure funding is available for several international credit union priorities.
The subcommittee began marking its bill Friday.
“We are writing in strong support of fiscal year 2024 funding levels of $50 million for the Cooperative Development Program (CDP); $30 million to expand for the Credit for Agriculture Producers' (CAP) Technical Assistance Project; and $50 million to support the efforts of the countries surrounding Ukraine to support reintegration of Ukrainian displaced persons and refugees,” the letter reads.
A Global Initiative
The CDP is a global initiative that focuses on building capacity of “cooperative businesses and cooperative systems for self-reliance, local ownership, and sustainability. It was funded at $18.5 million in FY23.”
The CAP Technical Assistance Project allows credit unions of Ukraine to ensure the liquidity of credit unions, access to savings and agricultural loans to support local food security, and other community needs.
The additional $50 million CUNA is requesting would support World Council of Credit Union efforts to ensure communities affected by the war can receive funding.
Work in Ukraine
“With U.S. government and private U.S. foundation support, WOCCU is working in Ukraine to promote economic freedom and growth, increase financial inclusion, expand rapidly financial access using mobile technology, help farmers and artisans obtain better prices for their goods, and fill the agricultural lending gap to improve food security,” the letter reads. “Therefore, we request support for WOCCU’s short-term and long-term relief and rebuilding efforts in the Ukraine and surrounding regions vis-à-vis credit unions and their financial infrastructure that are working to address increasing food security issues and other economic needs in that war-torn country and around the world.”
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