Co-operative Movement Current Affairs
The International Day of Cooperatives (IDC) was observed on July 7 (first Saturday of July) across the world to promote co-operative model as it contains core aspects of sustainable development and is based on ethical values and principles. The 2018 theme of the Day was ‘Sustainable societies through cooperation’, aimed at creating sustainable societies through cooperation. Co-operatives around world celebrate this day in various fashions and each year the organising institutions agree on a theme for the celebrations.
International Co-operative Day (IDC)
IDC is an annual celebration of the co-operative movement. It has been observed on first Saturday in July since 1923 by International Co-operative Alliance (ICA). It was proclaimed as first Saturday of July by United Nations General Assembly (UNGA) by adopting resolution 47/90 on December 16, 1992 to mark the centenary of establishment of the International Cooperative Alliance (ICA). Since 1995, United Nations’ International Day of Co-operatives has been observed jointly alongside International Co-operative Day.
Co-operatives foster external equality as they are community-based and are committed to sustainable development of their communities – environmentally, socially and economically. It open membership model affords access to wealth creation and poverty elimination. In co-operatives, contribute equitably to, and democratically control, capital of their co-operative. Co-operatives Movement has been recognised as distinct and major stakeholder in both national and international affairs.