CUNA wrote the Senate Appropriations Subcommittee on State, Foreign Operations, and Related Programs in strong support of several international credit union priorities in fiscal year 2024. The committee will conduct a hearing with U.S. Agency for International Development Administrator Samantha Power Wednesday.
“Considering today’s hearing and the Committee’s role in appropriating funds for international aid programs, we are writing in strong support of fiscal year 2024 funding levels of $50 million for the CDP; $30 million to expand for the Credit for Agriculture Producers' (CAP) Technical Assistance Project; and $50 million to support the efforts of the countries surrounding Ukraine to support reintegration of Ukrainian displaced persons and refugees,” the letter reads.
The CDP is administered by USAID and is a global initiative that focuses on building capacity of cooperative businesses and cooperative systems for self-reliance, local ownership, and sustainability.
Its implementing partners have advanced cooperative businesses and systems in more than 18 countries and supported more than 500 cooperatives and credit unions with a combined savings of $495 million over the program’s life.
The CAP Project is designed to strengthen partner credit unions and expand access to agricultural credit for farmers. CAP partners have received fuel, digital service, and loan reimbursement services, among others, in the past year.
USAID extended it through September 2024 in February.
We are asking Congress to appropriate $30 million to expand the CAP Project to support Ukrainian credit unions in rebuilding their war-torn country to ensure the liquidity of credit unions, access to savings and agricultural loans to support local food security, and other community needs,” the letter reads. “CAP should be fully funded and expanded to continue when its current authorization expires at the end of fiscal year 2024.”