October 20, 2017

Myanmar celebrates 94th International Day of Cooperatives

Union Minister Dr Aung Thu visits 94th International Day of Cooperatives in Nay Pyi Taw. Photo: MNA
Union Minister Dr Aung Thu visits 94th International Day of Cooperatives in Nay Pyi Taw. Photo: MNA

COOPERATIVE associations have been organised around the world to carry out many different activities in agriculture, social and other service sectors, including non-economic activities of interest to their members and people around the world, said Union Minister Dr Aung Thu on the occasion of the 94th International Day of Cooperatives celebrated at the Ministry of Agriculture, Livestock and Irrigation in Nay Pyi Taw on Monday.
Despite the cooperative sector representing a small portion of the country’s overall economic sector, its contribution to the flow of funds in rural areas has reached a certain level, said the Union minister, adding that cooperative associations have been founded in more than 42,000 villages across Myanmar.
The Union minister stressed the need for further efforts to be made to achieve the global strategy for cooperatives that aims to make them the fastest growing form of enterprise by 2020.
He called on cooperative associations to outline and implement the initiatives within 15 years to bring themselves in line with the aims and goals of the International Co-operative Alliance.
Next, the Union minister presented a microfinance loan of K512.5 billion to responsible persons from region/state cooperative associations.
During the International Cooperative Day celebration, outstanding cooperative syndicates were presented awards.—Myanmar News Agency

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