Today is International Day of Cooperatives and why it is marked

SOURCE: ChatGPT

The International Day of Cooperatives, also known as World Cooperative Day, is observed annually on the first Saturday of July. It was established by the United Nations (UN) to recognize and celebrate the significance of cooperatives in economic, social, and cultural development worldwide.

Cooperatives are organizations owned and democratically controlled by their members, who can be employees, producers, consumers, or other stakeholders. They operate based on cooperative principles, such as voluntary membership, democratic decision-making, equitable distribution of benefits, and concern for the community.

The International Day of Cooperatives aims to increase awareness about cooperatives' contributions to socio-economic development, poverty reduction, employment generation, and the promotion of sustainable practices. It highlights the cooperative movement's values, including self-help, self-responsibility, democracy, equality, and solidarity.

Each year, the International Day of Cooperatives has a specific theme that reflects the cooperative movement's priorities and challenges. The day provides an opportunity for cooperatives to showcase their achievements, share experiences, and collaborate with stakeholders to address global issues.

The observance of the International Day of Cooperatives helps raise public awareness about the cooperative model and its potential for fostering sustainable development, promoting social inclusion, and advancing the well-being of individuals and communities worldwide.