Saturday July 6, 2024 brought back International Cooperatives Day, celebrated this year under the theme "Cooperatives build a better world for all".

The Bank of the Republic of Haiti (BRH) recognizes the importance of these institutions, in particular the Savings and Credit Cooperatives (CEC), one of the pillars of the promotion of financial inclusion, due to their presence in the most remote areas, which also contribute to the economic and social development of Haiti.

According to the International Cooperative Alliance, a cooperative is "An autonomous association of people voluntarily brought together to satisfy their common economic, social and cultural aspirations and needs through an enterprise whose ownership is collective and where power is exercised democratically."

On this day of celebration, Edgard Leblanc Fils President of the Presidential Transitional Council (CPT) delivered a speech.

Extracts from the speech of the President of the CPT :

"[...] In Haiti, the 87-year-old movement has a large network of cooperatives, the majority of which are Caisses Populaires. It has assets of nearly 9.3 billion gourdes, savings of more than 6.5 billion gourdes and a credit portfolio of 5.5 billion gourdes [...]

On this anniversary day, it is important to take stock of the historical and current contributions of cooperatives in building a more secure future through the acceleration of efforts to implement the Sustainable Development Goals (SDG 2030) [...] Thanks to democratic governance and collective ownership, cooperatives offer an example of building Peace and Stability by putting people from diverse backgrounds on an equal footing and promoting respect and mutual understanding [...]

Some people thought that the cooperative crisis in Haiti at the beginning of 2002, caused by the excessive remuneration of certain Caisses Populaires, would spell the end of the Haitian cooperative movement. Fortunately [...] traditional cooperatives anchored in good practices and respectful of prudential standards continued to operate normally [...] Since then, cooperatives have strengthened and have been able to play their role in the fight against poverty and in the creation of wealth, allowing members to cope with the continued deterioration of the country's economic situation.

[...] In my own name and in the name of the Presidential Transitional Council, I express the hope that the stimulation of the sector of cooperative activities through the integration of young people representing more than 60% of the population will contribute to reducing unemployment which affects nearly of 70% of the active population and in turn will positively influence the efforts of state authorities mobilized in the fight against the crime of armed gangs which are bringing the country's economy to its knees.

Long live the Haitian cooperative movement !"

HL/ HaitiLibre