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Ukraine is considered the breadbasket of Europe. The grain from Ukraine is not only extremely important for the local people, but also an important staple food in Africa and Asia. Because of the war, the remaining farmers in western Ukraine lack diesel, fertilizer and seeds, which has serious consequences for the harvest. We are steering against this together!
How do we want to tackle this?
We, the German Sparkassenstiftung for International Cooperation, have been active in Ukraine for many years and have therefore set up a fundraising project at short notice. The donations will be put into a revolving credit fund that will help farmers to finance urgently needed materials and activities in the agricultural production cycle. The credit fund is managed by our long-term project partners "Kredyt-Sojus" and "Anisia", with whom we already cooperate in other projects. We do not only help them with loan funds, but provide expert advice to them and the farmers so that they can plan sustainably.
What is a revolving credit fund?
In principle, a so-called revolving credit fund is a rescue balloon through which short-term funds can be disbursed in the form of small loans. The loans are repaid into the balloon and are then available to the next small business. The balloon or credit rotation fund literally rotates the available money from one recipient to the next. The money always stays within the fund and is therefore continuously available to the people in the region or in Ukraine. A revolving credit fund is also the basis for microfinance, which in turn is part of the basic idea of the Sparkassen in Germany.
What does German Sparkassenstiftung do worldwide?
We have been working for financial inclusion worldwide for 30 years. We are a non-profit organization and the development policy arm of the Sparkassen Finance Group. We are currently active in over 50 countries worldwide.
How do we ensure your donation gets there?
The proceeds are used to set up a credit rotation fund for farmers at at least one of the two partners, for on-site consultancy by local and international staff of German Sparkassenstiftung and for administration as well as technical management in Bonn. The local team advises on the technical implementation and contractual set-up of the fund, assists the Ukrainian partners in granting loans, coordinates and communicates with the Ukrainian partners and ensures that the donations are used for the intended purpose.
All information about our donation project for Ukraine can be found here: https://www.betterplace.org/en/projects/109728
Michael Beck is our project manager for Ukraine and works for German Sparkassenstiftung in Bonn. He has lived in Ukraine for many years himself and is familiar with the needs of the population and the far-reaching consequences that the war has on the collapsing agricultural sector and thus on the food supply locally and worldwide. You can contact him directly at michael.beck--at--sparkassenstiftung.de