The International Day of Cooperatives is observed worldwide on the first Saturday of July. Established by the United Nations General Assembly in December 1992, this annual event aims to highlight the contributions of cooperatives to sustainable development and the advancement of communities and nations. The day coincides with International Cooperative Day, celebrated by the International Cooperative Alliance (ICA) since 1923. The ICA, founded in London in August 1895, represents 283 member organizations across 94 countries as of March 2015. Activities on this day include various celebrations at international, national, and local levels, emphasizing the cooperative movement's role in economic, political, social, and cultural progress.