Minister Carr: Co‐operatives succeed in development aid

Foreign Minister Bob Carr told a high‐level United Nations Development Co‐operation Forum that cooperatives are the way to succeed in delivering effective development aid.

Speaking at the Forum hosted by UN Secretary General Ban Ki‐moon on 5 July in the run up to International Co‐operative Day, Minister Carr said, "Support for co‐operatives is important because it creates new markets and new business opportunities where they have been destroyed by famine or conflict."

Minister Carr said the Australia Government is supporting one of the best known women's financial co‐operatives, the Self‐Employed Women's Association Bank in India though its 2.2 million dollar contribution to the Women’s World Banking initiative.

"This year’s United Nations International Year of Co‐operatives (IYC) reminds us that we need to put people at the centre of this change – to empower them to make development happen."

International Co‐operative Day, celebrated tomorrow on 7 July, recognises the social and economic importance of 1.4 million co‐operative businesses serving one billion member owners globally.

"The economic turbulence of the past few years has seen international factors impact on Australian business in many ways," said Director of Australia’s Secretariat for the International Year of Cooperatives, Melina Morrison.

"But the businesses priorities of co‐operatives remain rooted in the local community where they operate, creating a transparent model that values equity, responsible self governance and a
democratic decision making process."

Greg Wall, Chair of the National IYC Secretariat, said co‐operatives play a vital role in the Australian economy: "The top 100 Australian co‐operatives and mutuals had turnover of $14.7billion in 2011.

Co‐operative businesses make a valuable contribution across a wide range of sectors including agriculture, finance, health, banking, retail and renewable energy".

"The International Day of Co‐operatives is an opportunity to reflect on the importance of co‐operative businesses in building a more resilient economy as we deal with the global financial downturn."

Media Contact

Melina Morrison,
E: melina.morrison@socialbusiness.coop
M: +61 410 902 656

Download above Media Release as PDF document Adobe PDF

AddThis

share

Subscribe To Our RSS Feed

RSS

Testimonial

Peter Russell-Clarke
Iconic TV chef and co-ops champion, Peter Russell-Clarke
"...because a lot of profit made from human effort is vanishing out of the local community where it is generated, we are becoming acutely aware that we need to join hands and protect each other by striving together to the benefit of our neighbours as well as our own family. We need to co-operate with each other - Bravo the co-operatives amongst you."

Global Co-op Stories

Stories.coop - Stories of co-operatives building a better world

Global IYC 2012 News

Global News Hub

Facebook    Twitter

The IYC 2012 Secretariat is proudly supported by Social Business Australia and Capricorn Society Ltd

SBA logo                     Capricorn logo                          Capricorn logo

IYC 2012 logo