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The International Co-operative Alliance and Crédit Coopératif just announced the relaunching of the former Global Development Co-operative that is now named the Global Co-operative Impact Fund. The new fund is focusing on the long term investment in African co-operatives and establishing co-operatives as a new asset among other communities.
The President of the International Co-operative Alliance, Dame Pauline Green stated that "Co-operatives are growing and sustainable businesses which serve the needs of people. The new Global Co-operative Impact Fund will measure performance not only at financial and social level, but also based on environmental concern and good governance. Fund beneficiaries will be expected to observe participative, ethical and financial standards as put forward in the co-operative principles. We expect the Global Co-operative Impact Fund to become a magnificent example of global co-op to co-op trade. We are eager to see it develop into both a win-win and a cultural bridge between African and world co-operators.”
The Global Co-operative Impact Fund is looking to extend the co-operative business model to its full potential. These co-operative enterprises particularly in rural Africa will improve societies all around the world.
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Source & Copyright: International Co-operative Alliance