International Cooperative Alliance (ICA)

23.11.2024

International Cooperative Alliance (ICA)

Why in the news?                        

            India is all set to host the global conference of the International Cooperative Alliance (ICA) for the first time.

Key Points:

• Indian Farmers Fertiliser Cooperative Limited (IFFCO) has taken the initiative to host the ICA General Assembly and Global Cooperative Conference.
• The Global Cooperative Conference in India will also mark the official launch of the ‘UN International Year of Cooperatives-2025’.
• The theme of the conference is “Cooperatives Build Prosperity for All”.

About International Cooperative Alliance (ICA):

• It is a non-profit international association which unites, represents and serves cooperatives worldwide.
• Founded in 1895, it is one of the oldest non-governmental organisations and one of the largest ones measured by the number of people represented with one billion cooperative members on the planet.
• It is the apex body representing cooperatives, which are estimated to be around 3 million worldwide, providing a global voice and forum for knowledge, expertise, and coordinated action for and about cooperatives.
• It is the guardian of the Statement on the Cooperative Identity, which includes a definition, 10 values, and 7 operational principles; it is the minimum common denominator for all cooperatives in all sectors and all regions.
• The ICA’s members are international and national cooperative organizations from all sectors of the economy.
• More than 306 organizations from 105 countries are members of the ICA.
• It operates a central office in Brussels, Belgium, and four regional offices for Africa, the Americas, Asia-Pacific and Europe.
• The ICA structure also has sectoral organizations for cooperatives active in agriculture, industry and services, consumer retail, banking, fisheries, health, housing, and insurance.

                                                                  Source: The Hindu

Consider the following statements regarding the International Cooperative Alliance (ICA), recently seen in the news:

1. It is a non-profit international association which unites, represents, and serves cooperatives worldwide.

2. Its members are international and national cooperative organizations from all sectors of the economy.

Which of the statements given above is/are correct?

A)1 only

B)2 only

C)Both 1 and 2

D)Neither 1 nor 2

Answer C