CUNA wrote to Congressional leadership Tuesday in support of increased funding for the Cooperative Development Program (CDP), and specifically for community-based credit unions in developing countries. The CDP is a global initiative administered by the U.S. Agency for International Development that focuses on building capacity of cooperative businesses and cooperative systems.
The program was funded at $17 million in FY20, and that amount is raised to $20 million in Senate Appropriations Committee legislation.
“During discussions with the Senate regarding omnibus spending legislation, we respectfully urge you to adopt this increased Senate funding level for the Cooperative Development Program,” CUNA’s letter reads. “In addition, we urge you to accept the corresponding report language that funds enacted in FY 2021 for the CDP that are in excess of the FY 2020 level be directed to ‘community-based credit unions in developing countries.’”
The letter also noted that the World Council of Credit Unions makes efficient and impactful use of CDP grants, “to promote cooperative businesses and cooperative systems for self-reliance, local ownership and sustainability.”