BCCM provides evidence on sectors’ role in Australian aid

16 September 2014

The BCCM has been among representatives of the responsible business movement giving evidence at a Federal Government Inquiry into the role of the private sector in Australia’s aid program, presenting evidence on the role co-operatives and mutuals can play in international aid, poverty reduction and private sector development as part of Australia’s aid budget.

BCCM CEO Melina Morrison was joined by Brian Bennett, CEO of Encompass Credit Union and BCCM Associate Member, who together with other Australian mutuals and member-owned banks have contributed to the development of financial co-operatives and affordable financial services in developing nations in the region.

The appearance at the inquiry follows a submission made in May to the Joint Standing Commitee into Foreign Affairs and Trade Inquiry: The role of the private sector in promoting economic growth and reducing poverty in the Indo-Pacific region.

The BCCM submission argues that aid focused on enterprise and capacity building has the greatest potential to alleviate poverty, and outlines why co-operatives are recognised conduits of economic development and poverty alleviation. It makes the case for why this business model should be considered for inclusion in any reassessment of Australia’s approach to aid and economic development.

Read more: CSR Leaders Appear at Government Inquiry, Pro Bono News, 10 Sep

BCCM submission: Submission to Inquiry into The role of the private sector in promoting economic growth and reducing poverty in the Indo-Pacific region.