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Earlier this month, UN Secretary-General Ban Ki-moon discussed the significant role that cooperatives can play in social and economic development, particularly in address the issue of  youth unemployment. July 2nd was the annual International Day of Cooperatives and in celebrating this day, the Secretary-General stated that the cooperative model enables young people to create and manage sustainable enterprises, while providing reliable access to credit and financial services to these entrepreneurs.

“Through their distinctive focus on values, cooperatives have proven themselves a resilient and viable business model that can prosper even during difficult times,” Ban Ki-Moon

This year’s celebration had the theme of “Youth, the Future of  Cooperatives,” as Ban Ki-Moon noted that youth might be the one’s to help impoverished communities break the cycle of poverty through social enterprise. The International Year of Cooperatives will be launched in October 2011.
“Let us recognize young women and men as valuable partners in strengthening the cooperative movement and in sustaining the role of cooperatives in social and economic development,” – Ban Ki-Moon