WASHINGTON – The US Agency for International Development yesterday awarded the World Council of CUs a $60.5 million contract to expand credit union services in southern and eastern Afghanistan.
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The contract is the largest given to a single organization by USAID in support of microfinance development in Afghanistan, according to WOCCU.
WOCCU’s program will set up the country’s first national association for Islamic investment and finance cooperatives, or credit unions, and help those cooperatives reach more small- and medium-scale business owners, farmers and poor families in underserved rural areas with microloans and savings opportunities.
