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24. The Global Development Co-operative

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Coop Name: Global Development Co-operative
City: Manchester
Country: United Kingdom Year of formation: 2011
Website: http://www.co-operative.coop Twitter: Link
Facebook: Link
About this coop:

The Global Development Co-operative was officially launched on the same day as that of the UN International Year of Co-operatives 2012. It has been set up to provide development capital to those co-operatives who fall into what is known as the "missing middle" and have, up until now, had no access to capital in the range of $US10,000 to $US1 million.

The Global Development Co-operative (GDC) was launched by the worldwide co-operative movement to support co-operative businesses in developing countries by raising US$50m to provide access to low cost loans for capital and infrastructure projects. The new investment concept has been developed by the UK’s The Co-operative Bank – part of the world’s largest consumer co-operative – and the ICA because funding for such businesses is often scarce since traditional lenders are either not active in this market, do not sufficiently understand the co-operative business model, or because businesses have limited collateral to put forward.

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