MADISON, Wis.—More than 17,000 gallons of diesel fuel are being distributed free to member farmers of credit unions in Ukraine, as part of the ongoing relief activities of the World Foundation for Credit Unions (WFCU).
Fuel remains scarce in Ukraine due to continued Russian aggression, which means the price of diesel also continues to rise. Under the Fuel Disbursement Program, WFCU leveraged its Displacement Fund of Ukrainian Credit Unions to buy $100,000 worth of diesel from Ukraine’s national gas station chain OKKOand provided a total of 1,329 free fuel vouchers to Ukrainian small and medium-sized farmers who took out agricultural loans from partner credit unions of the USAID/WOCCU Agricultural Producer Credit Project (CAP).
163 farmers receiving loans through 15 CAP-associated credit unions in Ukraine were able to access the vouchers, allowing them to get fuel just in time to sow their winter crops. These farmers are responsible for underwriting 30% of all agricultural loans issued by Ukrainian credit unions since the start of the large-scale Russian invasion on February 24.
“In these difficult times for our country, even under constant bombardment from Russia, Ukrainian farmers continue to operate and care about our food security. As credit unions, we are pleased to be able to support them, not only with the necessary financing, but also, through our international partners and friends, to ensure they have diesel for the fall harvest season. said Mr. Volodymyr, CEO of Credit Union Anisia, which provided diesel fuel coupons to 27 member farmers.
The fuel disbursement program is the second of two relief initiatives designed to help credit union farmer members in Ukraine using WFCU’s Ukrainian Credit Union Displacement Fund.
Thanks to an account created in collaboration with Ridnia, a Ukrainian NGO, another grant of $100,000 was paid in June Reimburse eligible farmer members of CAP partner credit unions 10% of their agricultural loan principal repayments. To date, $50,000 has been distributed from this account to repay 10% of the loan principal to 615 member farmers.
The WFCU awarded a $50,000 Travel Fund grant in March to the Podolian Agency for Regional Development (PARD), a Ukrainian non-governmental organization that provides humanitarian aid to hundreds of refugees from Kyiv, Kharkiv, Mariupol, Kherson, Melitopol and other towns seeking refuge in the Vinnytsia region of western Ukraine. PARD used part of the WFCU grant to assemble a temporary shelter and is also working to buy and deliver food, water, medicine, bedding and other supplies to displaced Ukrainians inside the country.
To donate to the Ukrainian Credit Union Displacement Fund, Click here.
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