WASHINGTON, D.C.—The World Council of Credit Unions (WOCCU) is reporting that beginning in October it will begin implementing the new Accelerating Growth and Inclusion in Lending for Credit Unions (AGIL4CU) Project across five countries.
The five-year, $9.3 million initiative is being funded through the USAID Cooperative Development Program in Burkina Faso, Kenya, Senegal and Guatemala.
According to WOCCU, the AGIL4CU Project (2023-2028) will “advance credit unions’ ability to provide value to their members and contribute to the economic development of their communities, while extending business financing to underserved market segments, including women and youth.”
Objective of Program
WOCCU said the AGIL4CU Project is designed to:
- Improve credit union leaders’ strategic and technical capacity
- Increase the value of digital services for financial inclusion
- Expand on and emphasize streamlined micro-, small- and medium-enterprise (MSME) lending processes for economic growth
- Implement youth and women specific loan products
- Expand climate adaptive financing
Building on Earlier Work
According to WOCCU, the project will build on the work of WOCCU’s current USAID CDP Technology and Innovation for Financial Inclusion (TIFI) Program (2018-2023) in the same four countries, with the AGIL4CU Project being implemented in close partnership with five local and regional credit union partners, contributing to USAID localization efforts.
“We are thrilled to continue our work to help credit unions build their capacity and expand lending to medium and small business owners,” said Angelina Tracy, WOCCU VP-strategic growth and partnerships. “But AGIL4CU will allow us to go even further by helping credit unions create new loan products that specifically benefit women and young adults, while making their members and communities more climate-resilient. The AGIL4CU Project continues WOCCU’s long tradition of partnering with USAID-CDP to improve cooperative financial institutions by providing value to their members and strengthening the social and economic development of their communities.”
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