KYIV, Ukraine – Major stakeholders here are celebrating the launch of The Credit for Agriculture Producers (CAP) Project, a four-year project (2016-2020) funded by the United States Agency for International Development (USAID) and implemented by the World Council of Credit Unions (WOCCU) in partnership with VEGA.
The event took place during the meeting of the Committee on Financial Policy and Banking of Verkhovna Rada of Ukraine—crucial partners in the process of registration and adoption of the new draft Law on Credit Unions, WOCCU said.
In her speech, Chief of Party for the CAP Project Ewa Sierzynska emphasized the importance of the adoption of new updated legal standards governing credit unions’ operations, which will encourage an increase in their contribution to the development of rural agriculture, and she highlighted the critical role they play in the provision of financial services and education in remote rural areas. The aim of the project is to strengthen the credit union sector in Ukraine to improve the quality of the financial services and products offered to farmers and other agribusinesses in rural areas of Ukraine, according to WOCCU.
WOCCU reported that in particular, since the beginning of the project’s activities, the CAP Project contributed to the development of the updated draft law “On Credit Unions of Ukraine” in close cooperation with the Ukrainian National Association of Savings and Credit Unions and the All-Ukrainian Credit Union Association, the National Commission on Regulation of Financial Services Markets, and other relevant state authorities and organizations. Innovations to the draft law are aimed at improving the regulatory environment for the accelerated development of credit union cooperation and to unveil credit unions’ potential; creating conditions and efficient opportunities to expand small and medium-sized producers’ access to financial resources, WOCCU said.
After the presentation of the project there was a discussion of the updated draft law among the People’s Deputies of the Verkhovna Rada of Ukraine—members of the Committee on Financial Policy and Banking.
Separately, WOCCU announced that Robert Herjavec, the star from ABC's Shark Tank, will address delegates during the Tuesday General Session of the 2017 World Credit Union Conference, held 23–26 July, in Vienna, Austria.
Herjavec will bring his expertise as a multi-million-dollar business owner to the main stage and the Executive Series, an impactful, exclusive series of sessions which includes two breakfasts and one lunch led by the keynote speakers. Limited spots available, WOCCU said.