NEW YORK–The United Nations Department of Social and Economic Affairs Expert Group (UN DESA) meeting was given an update on ways credit unions support financial inclusion for rural and underserved communities.
Andrew Price, SVP-international advocacy with the World Council of Credit Unions, offered the credit union update during a three day-event titled “The Role of Cooperatives in Economic and Social Development: Supporting Cooperatives as Sustainable and Successful Enterprises.”
Price also spoke about the ways credit unions provide financing for small and grassroots cooperatives in an effort to help UN DESA support the role of cooperatives in economic and social development by informing the upcoming UN Secretary General Resolution on cooperatives, according to WOCCU.
“The work being performed by the United Nations will further strengthen the international consensus on the important role that credit unions and cooperatives can play in meeting the social goals of the world,” said Price.
Other Issues Discussed
According to WOCCU, more than a dozen representatives from academia, governments and cooperatives also discussed their works on different aspects of the cooperative ecosystem, and presented inspiring cases from Kenya, Rwanda, Uganda, Israel, Brazil, Spain, Canada, the United States and other countries.
“The meeting established the important role for cooperatives as democratically controlled, community-based institutions in meeting social goals, while also noting the essential elements necessary for policy approaches that support their growth and development,” the World Council said.
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