CDP should be funded at $50M to aid international cooperatives

June 29, 2022

Funding the U.S. Agency for International Development’s (USAID) Cooperative Development Program (CDP) at $50 million for FY23 would build capacity for cooperatives around the world, CUNA wrote to House Appropriations Committee leadership Wednesday. The committee marked up appropriations legislation Wednesday, including the one that covers the CDP.

The CDP is a global initiative that focuses on building capacity of cooperative businesses and cooperative systems.

“Activities are targeted to strengthen cooperative businesses in several ways including improved governance, capitalization, gender empowerment, youth engagement, financial management, market performance, and advocacy,” the letter reads. “The program also prioritizes collaboration among partners through working groups, cooperative research, learning, and dissemination of cooperative development resources.”

CUNA also notes that the USAID-funded Credit for Agriculture Producers (CAP) Project—implemented by the World Council of Credit Unions—has been responsive to many needs in Ukraine since the Russian invasion in February.

“Through direct collaboration with its existing credit union partners, the CAP Project will enable efficient access to finance to help Ukrainians recover and rebuild their lives,” the letter reads. “CAP will build upon its strong relationship with the NBU to rebuild a robust financial sector in rural areas with strong credit unions at its foundation.”