Central Union of Agricultural Credit Cooperatives

22 May 2020
Turkey Ag

Turkey’s Central Union of Agricultural Credit Cooperatives took a series of measures to protect its members against COVID-19 and helped primary cooperatives continue their grassroots work. All enforcement and bankruptcy proceedings carried out throughout the country have been suspended as of 30 April 2020. The union offered flexibility on loan payments. A force majeure note was recorded in the Register in the Risk Center to address farmers credit debt. Loan principal and interest amounts set to expire in April and May will be postponed for 2 months without interest. Read the full story here. Pankobirlik, The Sugar-Beet Producers’ Cooperative Union purchased a large amount of sugar-beet at a time when economic activities were decreasing due to the pandemic, and also supplied ethanol to the market to support the manufacture of PPE. Bursa Ecza Koop (Pharmacy Cooperative of Bursa) took steps to distribute free PPEs to members and frontline workers who are working on fighting the pandemic. summarized its work during this pandemic. Read full coverage here.