Cooperatives help in reducing poverty
The role played by cooperatives in fighting poverty worldwide will be hightlighted in 2012.
ON Monday, the UN launched the International Year of Cooperatives in New York.
The main objective is to encourage the growth and establishment of cooperatives all over the world.
Sha Zukang, head of the UN Department of Economic and Social Affairs,outlines the role these member-driven institutions play in helping poor people.
"They generate employment and improve incomes that contribute to poverty reduction. They empower people with limited resources to engage in productive economic activities. This is especially true for marginalized groups. Cooperatives operate in various sectors of the global economy such as agriculture, finance and retail. They have an estimated one billion members worldwide." (Duration: 26")