In 1992 the United Nations established International Day of Cooperatives on the first Saturday in July. They chose this date to honor the founding of the International Cooperative Alliance one hundred years earlier. Today the organization represents 760 million people who belong to various cooperatives in 100 countries. In 1994 the United Nations affirmed their commitment to International Day of Cooperatives in recognition of the crucial role that cooperatives play in economic and social development. Discuss
Source: The Free Dictionary