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The cooperative movement is a workable tool of a country’s social and economic development. It helps to generate cash for the money turnover, ease social tension by creating jobs and providing people with products and services. In Russia, a major focus is development of agricultural cooperatives.
As of 2015, the International Co-operative Alliance (ICA) brought together 284 cooperative organisations working in 95 countries. The cumulative turnover of the top 300 cooperatives has amounted to USD 2.2 trillion. In the G20 countries, almost 12% of the total workforce is employed by cooperative organisations, which adds up to nearly 800 million people across the globe.
The US and European countries are the leaders by the share of population involved in the cooperative movement. In Russia, about 20 million people are estimated to be taking part in cooperative activities to a certain extent.
Types of cooperatives in Russia:
Financial cooperatives are involved in credit cooperation, cooperative finance, reciprocal lending and insurance.
Agricultural cooperatives can work in production, trading, supply, veterinary, and many other areas.
Consumer cooperatives are mostly retailers and public catering service providers.
The cooperative movement across the globe is seen as an important economy development factor which helps narrow social and economic differences; that is why cooperation usually enjoys broad government support:
In Russia, the government supports cooperation by both offering tax preferences and allocating financial aid from the budget: