pt. I. Theoretical foundations -- pt. II. Organisational transformation -- pt. III. Best practice in co-operative governance -- pt. IV. The true value of membership -- pt. V. Participation in financial markets -- pt. VI. Innovation in co-operatives -- pt. VII. Drawing conclusions

The use of challenge funds to promote economic and social development continues to grow, but has been the subject of relatively little research. This paper develops a definition of what challenge funds are and how they differ from other development funding mechanisms, taking into account their...