KYIV, Ukraine.—More than 17,000 gallons of diesel fuel is being distributed free of charge to credit union member farmers in Ukraine as part of the Worldwide Foundation for Credit Unions’ (WFCU) ongoing relief activities in the country.
According to the Foundation, fuel remains in scarce supply in Ukraine due to Russia’s continued war on the country, which has led to price increases. . Under the Fuel Disbursement Program, WFCU said it tapped its Ukrainian Credit Union Displacement Fund to purchase $100,000 worth of diesel from Ukrainian national fuel station chain OKKO, and provided a total of 1,329 free fuel coupons to Ukraine’s small- and medium-sized farmers who took out agricultural loans at credit unions that partner with the USAID/WOCCU Credit for Agriculture Producers (CAP) Project.
In all, 163 farmers with loans through 15 CAP-associated credit unions in Ukraine were able to access the coupons, allowing them to get the fuel just in time to sow their winter crops, according to the Foundation, which added those farmers are responsible for taking out 30% of all agricultural loans issued by Ukrainian CUs since the start of the Russian invasion on Feb. 24.
“In these difficult times for our country, even under Russia’s constant shelling, Ukrainian farmers continue to operate and care about our food security. As credit unions, we are happy we can support them, not only through the needed finance, but also—thanks to our international partners and friends—to ensure they have diesel for the autumn harvest season,” said Mr. Volodymyr, CEO of Credit Union Anisia, who provided diesel fuel coupons to 27 member farmers.
The Fuel Disbursement program is the second of two relief initiatives designed to help credit union member farmers in Ukraine through WFCU’s Ukrainian Credit Union Displacement Fund.
Earlier Grants Provided
As CUToday.info reported earlier, through an account set up in collaboration with Ridnia, a Ukrainian NGO, another $100,000 grant was disbursed in June to reimburse eligible CAP-partner credit union member farmers on 10% of their agricultural loan principal payments. To date, $50,000 from that account has been distributed to repay 10% of the principal on loans for 615 member farmers, the Foundation said.
As CUToday.info also reported earlier, in March WFCU in March awarded a $50,000 Displacement Fund grant to the Podolian Agency for Regional Development (PARD), a Ukrainian non-governmental organization that is providing humanitarian assistance to hundreds of refugees from Kyiv, Kharkiv, Mariupol, Kherson, Melitopol and other cities who are seeking refuge in the Vinnytsia region of western Ukraine.
Additional Purchases
PARD used part of the WFCU grant to assemble a temporary shelter, and is also working to purchase and deliver food, water, medicine, bedding and other supplies to internally displaced Ukrainians, the Foundation said. .
To donate to the Ukrainian Credit Union Displacement Fund, click here.