The Malta Co-operative Federation welcomes the publication of the new regulations of the Central Co-operative Fund (CCF) and believes that this is the first concrete step towards establishing equity among co-operative federations in Malta.
As a result of the changes that came into force through Legal Notice 344 of 2016, the Malta Co‑operative Federation will now be in a position to fund research, training and educational programs associated with the promotion and development of the co-operative movement in Malta, enabling it to assist co-operatives and social enterprises.
While thanking the Minister for the Economy, Investment and Small Business, Dr Chris Cardona, for his commitment to put together the much needed reform of the Central Co-operative Fund, the Malta Co-operative Federation appealed to him to ensure that the legal framework established by the new regulations of the CCF are put into operation and implemented without delay.
The President of the Malta Co-operative Federation, John Mallia, remarked that these are exciting times for the Maltese co-operative movement since more people will now have the opportunity to learn about the co‑operative experience and how such democratically-controlled enterprises can contribute to the country’s economic growth, social development and environmental responsibility. This involvement would inspire more people to recognise the potential of working together thus encouraging the creation of new co-operatives.
Since its formation in 2012, the Malta Co-operative Federation, assisted more than 80% of newly registered co-operative societies. Despite the fact that it was eligible for funding during this period, the Malta Co-operative Federation was systematically deprived of all funding available through the Central Cooperative Fund.
Each co-operative society contributes 5% of its annual surplus towards the Central Cooperative Fund. The member societies affiliated with the Malta Co-operative Federation contribute collectively to around 50% of the total annual contributions made into this public fund.