Mr. Speaker, this is Co-op Week and I am pleased to recognize the importance of co-operatives to the economic and social fabric of Canada and, indeed, the world.
An important part of the social economy, co-ops provide essential services in rural and remote communities, as well as other vital services such as affordable housing and child care. The 9,200 co-operatives in Canada contribute to local economic development and job creation with 70,000 volunteers and employing 155,000 people.
The co-operative development Initiative was launched in 2003 to help develop the co-operative sector. I am pleased to report that 87 innovation and research projects worth over $4.3 million have been approved under this initiative, as well as a further $5 million for co-op advisory services.
The Government of Canada looks forward to a continued fruitful partnership with co-ops and I encourage all members to be supportive of the co-op movement.