$76m earmarked to support cooperatives

April 2, 2022 - 19:33

TEHRAN – A total budget of 20 trillion rials (nearly $76 million) has been allocated for cooperatives in line with the goal of developing the national economy, the minister of cooperatives, labor and social welfare has announced.

In line with the government’s macro-policies, in addition to consolidating current job opportunities, the creation of one million new jobs is targeted by the end of the current [Iranian calendar] year (March 2023), IRIB quoted Hojjatollah Abdolmaleki as saying on Saturday.

In this regard, a new line of the budget has been allotted amounting to 20 trillion rials (nearly $76 million), he further stated.

Some 97,000 cooperatives are active across the country, which has created more than 1.8 million direct jobs, former minister of cooperatives, labor, and social welfare, Mohammad Shariatmadari, said in July 2021.

Cooperatives have been acknowledged as associations and enterprises through which citizens can effectively improve their lives while contributing to the economic, social, cultural, and political advancement of their community and nation.

Cooperatives also foster external equality. As they are community-based, they are committed to the sustainable development of their communities - environmentally, socially, and economically. This commitment can be seen in their support for community activities, local sourcing of supplies to benefit the local economy, and in decision-making that considers the impact on their communities.

Despite their local community focus, co-operatives also aspire to bring the benefits of their economic and social model to all people in the world.

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