The United Nations General Assembly has declared 2012 as the International Year of Cooperatives, highlighting the contribution of cooperatives to socio-economic development, particularly their impact on poverty reduction, employment generation and social integration.

   With the theme of “Cooperative Enterprises Build a Better World”, the Year seeks to encourage the growth and establishment of cooperatives all over the world. It also encourages individuals, communities and governments to recognize the agency of cooperatives in helping to achieve internationally agreed upon development goals, such as the Millennium Development Goals

The International Year of Cooperatives has three main objectives:

Increase awareness - Increase public awareness about cooperatives and their contributions to socio-economic development and the achievement of the Millennium Development Goals.
Promote growth- Promote the formation and growth of co-operatives among individuals and institutions to address common economic needs and for socio-economic empowerment.
Establish appropriate policies - Encourage Governments and regulatory bodies to establish policies, laws and regulation conducive to co-operative formation and growth.

By raising awareness about cooperatives – what they are, and what they do – the Year will help to encourage support and development of cooperative enterprises by individuals and their communities.