The European Foreign Affairs Council adopted a second set of conclusions on the role of the private sector in international development which also mentions co-operatives. The document highlights the role that private sector players, such as co-operatives can play in tackling poverty, achieving sustainable development and inclusive growth.
The Council calls on the European Commission, member states and European Financing Institutions (EFIs) to pay particular attention to local banking systems and to improve the access of co-operatives and social enterprises to capital, long term financing and financial services.
The second set of conclusion follows on from the European Commission’s communication “A stronger role of the private sector in achieving inclusive and sustainable growth in developing countries” as well as the first set of the Council’s conclusions, published in June 2014.
The regional organisation of the International Co-operative Alliance, Cooperatives Europe, welcomes the Council’s endorsement of the Commission’s principles and criteria for successful partnerships with the private sector.
Marc Noel, Cooperative Development Manager at Cooperatives Europe said: “Joining the forces of the partners of the CEDP has enabled us to give visibility to what co-operatives do in development and magnified our capacity to raise awareness of decision makers. In particular, the close collaboration with our members in Italy, the country now running the EU Presidency, enabled us to be mentioned in the conclusions. It is a great success as the Council conclusions define the concrete actions of collaboration between the EU and the private sector in development co-operation until 2020.”
In its recommendations, the Council is also encouraging the Commission, Members States and EFIs to improve the access of micro, small and medium enterprises to financial services, and particularly to support the social and economic empowerment of women and youth.
Klaus Niederländer, Director of Cooperatives Europe, said: “We welcome the EU Foreign Affairs Council’s conclusions and particularly the specific reference to the co-operative business model. We hope that these recommendations will achieve stronger and more successful partnerships in international development. We believe that private sector players using inclusive business models such as co-operatives can make a strong contribution to sustainable development and we will continue our work with the EU Institutions and stakeholders."
Photo: Klaus Niederländer, Director of Cooperatives Europe
