It is time to build such an international platform for mutual help and solidarity in order for all cooperatives and cooepratives financial systems of each country to further secure their local economy’s self-standing. In that sense, We would like to call this platform “The International Cooperatives Bank”.
It is an international entity owned by the cooperatives of each country, as the “group of people” in order to maintain the “life defense system” of members and users and the “self-standing of the local economy”. These platforms should initially be constructed by the rural credit cooperatives sides whose human resources and financial fundamentals are relatively weak against challenges such as organic farming, reduction of chemical fertilizers and expansion of renewable energy etc. But we think the door should be also open to all cooperatives sides, including urban credit cooperatives and the urban commercial and craft industrial sector.
As one image of The International Cooperatives Bank, it can be thought that many countries’ central cooperatives banks form The International Cooperatives Bank to lend long term and low interest rate money to weak central banks such as developing countries, by raising funds through issuing bonds in the international markets. However, in reality, there may be various frameworks other than such a simple mechanism.
For example, we would like to show the possible concept by the rural credit cooperatives initiatives as follows;
However, in reality, there may be various frameworks other than such a simple mechanism.