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ICBA delegation meets World Bank officials in Washington

Chalks out plan for strengthening of cooperatives and increase of membership

Discuss issues pertaining to the celebration of International Year of Cooperatives in 2025

ICBA decides to meet in India in November 2024

WASHINGTON (USA), JUNE 07, 2024: The International Cooperative Banking Association (ICBA) delegation associated with International Cooperative Alliance (ICA) met the World Bank officials in Washington, USA, and held consultations on various issues from June 4 to 6, 2024.

The seven member delegation from ICBA held discussions with senior financial sector specialists and team of six in the World Bank.

The ICBA visit was aimed with a specific objective of: Understanding the initiatives of The World Bank towards Cooperative Financial Institutions (CFIs), keen interest in sharing of information about the Rural Cooperative Banks in ICBA member countries/institutions, to learn about the rating of CFIs and their status as per the Financial Sector Assessment programme/Proportionality of Regulation & sustainability, to explore the possibility of availing support by The World Bank in addressing the issues pertaining to Cooperative Banks in India and CFIs in other parts of the world (57 members of ICBA), to share on the role of the government, opportunities, and challenges involved in and with CFIs, the envisaged role of The World bank in celebrating the UN declared International Year of Cooperatives (IYC) 2025.

The list of delegates who attended the meeting include; Mr Bhima Subrahmanyam, President, (ICBA), Brussels, ICA Board Member& Managing Director/CEO, NAFSCOB, India, Mr. Konduru Ravinder Rao, Board Member, ICBA, /Chairman, NAFSCOB, India, Mr. Kabir Ayinde Tukur, Board Member, ICBA, & Group MD/CEO, Cooperative Federation of Nigeria, Dr. Douglas O’Brien, President/CEO, NCBA CLUSA, Washington & ICA Board Member, Dr Mary Griffin, Senior Policy Advisor, NCBA CLUSA (Associated with The World Bank for a short period), P. Santosh Kumar, International Cooperative Alliance, Brussels and Mr. Danilo Salerno, Regional Director, ICA-Americas, Costa Rica B. NCBA CLUSA CBA delegation visited NCBA CLUSA, Washington and held elaborate discussions with Dr.Douglas O’Brien, President/CEO, NCBA CLUSA, Washington & ICA Board Member.

Mr Bhima Subrahmanyam, President ICBA, of ICA had elaborate discussions on the Upcoming activities of ICA, ICBA, COPAC,UNDESA and the likely role that can be played by The World Bank in the events more particularly during IYC 2025. The meeting with Ms Wenyan Yang, the current chair of the Committee for the Promotion and Advancement of Cooperatives, who is also the chief of branch, UNDESA and Dr Andrew Allimadi, Senior Officer of UNDESA facilitated very good discussions. It was in principle agreed to meet in November 2024 in New Delhi, India

Similarly, the ICBA Board Meeting was held in Rabobank in Amsterdam. The ICBA ensured the collaborative spirit of ICA banking sectoral association. The meeting deliberations were very transparent.

Openness is seen during the entire duration at the board meeting. This was evident by the participation of observers (Aflatoun International, Dot Coop, ICA, and Rabobank), Minister for Cooperation, Karnataka Govt, etc.

Strong focus on data collection, increasing membership of the ICBA, Coordination with International Agencies/organistations such as UN,

The World Bank and Commitments by board members to ensure active participation in ICA/ICBA events in India in Nov 2024. The meeting also discussed about gender equality among the cooperatives and digitalization of cooperatives for transparency and good governance.

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