|Coop Name: Global Development Co-operative|
|Country: United Kingdom||Year of formation: 2011|
|Website: http://www.co-operative.coop||Twitter: Link|
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 UKs The Co-operative Bank part of the worlds 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.