Grameen Credit Agricole Foundation

Financial Times

Credit Agricole is to join forces with Grameen Bank, the pioneering provider of microfinance, to support fledgling microlenders around the world.

The French banking group yesterday said it would inject €50m ($73m) to endow a fooundation which will work with Grameen to provide financial guarantees and expertise to help launch microfinance institutions.

A New Book by Muhammad Yunus

What if you could harness the power of the free market to solve the problems of poverty, hunger, and inequality? To some, it sounds impossible. But Nobel Peace Prize winner Muhammad Yunus is doing exactly that.

What if you could harness the power of the free market to solve the problems of poverty, hunger, and inequality? To some, it sounds impossible. But Nobel Peace Prize winner Muhammad Yunus is doing exactly that. As founder of Grameen Bank, Yunus pioneered microcredit, the innovative banking program that provides poor people 'mainly women' with small loans they use to launch businesses and lift their families out of poverty.

Where you can obtain copy of the book

Reviews on Creating a World Without Poverty

In the past thirty years, microcredit has spread to every continent and benefited over 100 million families. But Yunus remained unsatisfied. Much more could be done, he believed, if the dynamics of capitalism could be applied to humanity's greatest challenges.

Now, in Creating a World Without Poverty, Yunus goes beyond microcredit to pioneer the idea of social business a completely new way to use the creative vibrancy of business to tackle social problems from poverty and pollution to inadequate health care and lack of education. This book describes how Yunus in partnership with some of the world's most visionary business leaders' has launched the world's first purposely designed social businesses. From collaborating with Danone to produce affordable, nutritious yogurt for malnourished children in Bangladesh to building eyecare hospitals that will save thousands of poor people from blindness, Creating a World Without Poverty offers a glimpse of the amazing future Yunus forecasts for a planet transformed by thousands of social businesses. Yunus 'Next Big Idea' offers a pioneering model for nothing less than a new, more humane form of capitalism.

'By giving poor people the power to help themselves, Dr. Yunus has offered them something far more valuable than a plate of food security in its most fundamental form.'
- Former President Jimmy Carter

'Muhammad Yunus is a practical visionary who has improved the lives of millions of people in his native Bangladesh and elsewhere in the world.'
Los Angeles Times

'[Yunus's] ideas have already had a great impact on the Third World, and...hearing his appeal for a 'poverty-free world' from the source itself can be as stirring as that all-American myth of bootstrap success.'
The Washington Post

Published by Public Affairs visit www.publicaffairs.com Available at http://www.amazon.com/ and http://www.barnesandnoble.com

 Reviews of the book

Web links from Google Alerts

Yunus Goes Beyond `Microloans'; Grisham, King's Big Print Runs
Bloomberg - USA
7 (Bloomberg) -- In 1976, Bangladeshi banker Muhammad Yunus took $27 from his own pocket and loaned it to a group of bamboo-stool makers to help them buy ...
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Thursday's Talk Shows
Los Angeles Times - CA,USA
7 and 11 pm KCET 90749, 48497 Charlie Rose Nobel Peace Prize winner Muhammad Yunus, founder of Grameen Bank. (N) 11:30 pm KCET 209045 Late Show With David ...
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The Man Who Is Creating a World Without Poverty
The Santa Barbara Independent - Santa Barbara,CA,USA
By Richard Appelbaum Muhammad Yunus is the winner of the 2006 Nobel Peace Prize or his path-breaking work in bringing microcredit (tiny loans for small ...
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A different approach to philanthropy
Daily O'Collegian - Stillwater,OK,USA
Nobel Prize recipient Muhammad Yunus helped me to put things in perspective. According to the Nobel Foundation, Muhammad Yunus and his Grameen Bank were the ...
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Literary Calendar 1/13
San Jose Mercury News - CA, USA
Thursday: "Creating a World Without Poverty," Muhammad Yunus. 2 pm Friday: "The Kept Man," Jami Attenberg. Saturday: "Digital Dharma: A User's Guide to ...
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Nobel laureate urges creation of more socially responsible businesses
Houston Chronicle - United States
By JENALIA MORENO Nobel Peace Prize winner Muhammad Yunus founded a bank that has helped 7.5 million beggars and borrowers escape abject poverty in his ...
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Nobel Peace Prize laureate spreads message of aiding the poor to ...
Austin American-Statesman - Austin,TX,USA
Muhammad Yunus, winner of the 2006 Nobel Peace Prize, has partnered with Whole Foods to fight third-world poverty. By Patrick George Muhammad Yunus has been ...
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Plenty of demand in the United States for 'social businesses' that ...
Houston Chronicle - United States
But Grameen's founder, economist and Nobel Peace Prize-winner Muhammad Yunus, proposed a new narrative­ this one for Americans ­ at the World Affairs ...
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From poets to politicians, a great week for author readings
Seattle Post Intelligencer - USA
A winner of the Nobel Peace Prize (Muhammad Yunus). Three local black poets (Colleen J. McElroy, Gloria Burgess, Lauri Conner). A humor writer for "Saturday ...
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Business Books: Banker to poor goes beyond microlending
Reuters - USA
By Lesley Wroughton WASHINGTON, Jan 17 (Reuters) - Muhammad Yunus, who won a Nobel prize for inspiring a global microfinance movement, is now pioneering an ...
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Nobel Peace Prize winner visits Santa Barbara
KSBY - San Luis Obispo,CA,USA
Muhammad Yunus hosted a lecture Wednesday evening. The Bangladesh native is on a mission to wipe poverty off the face of the earth. ...
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'Banker to the poor' finds way to branch out
Boston Globe - United States
Muhammad Yunus, who won a Nobel prize for inspiring a global microfinance movement, is now pioneering an idea he calls "social business" as a way to fight ...
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Success that takes society into account
The Times - Johannesburg,Gauteng,South Africa
Nobel Peace Prize winner Muhammad Yunus founded a bank that has helped 7.5 million beggars and borrowers escape abject poverty in his native Bangladesh. ...
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Creating a World Without Poverty
Chicago Public Radio - Chicago,IL,USA
But Nobel Peace Prize winner Muhammad Yunus is doing exactly that. As founder of Grameen Bank, Yunus pioneered microcredit, the innovative banking program ...
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Business.view Unreasonable people power
Economist - UK
Social entrepreneurs now have a reputation for being able to deliver, especially since the grand-daddy of social entrepreneurship, Muhammad Yunus, ...
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Muhammad Yunus
Forbes - NY,USA
The process of imagining a future world of our liking is a major missing element in our education system. We prepare our students for jobs and careers, ...
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Davos 2008: Bill Gates' Creative Capitalism and Muhammad Yunus ...
Huffington Post - New York,NY,USA
These words have been stated time and again by Professor Muhammad Yunus', the 2006 Nobel Peace Prize winner, and they are put forth in his latest book, ...
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Nobel Prize winner banker to poor
Toronto Star - Ontario, Canada
WASHINGTON “Muhammad Yunus, who won a Nobel prize for inspiring a global microfinance movement, is now pioneering an idea he calls "social business" as a way ...
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Who's the host with the most?
StarPhoenix - Saskatoon,Saskatchewan,Canada
The Colbert Report recently featured the irascible host grilling Nobel Peace laureate Muhammad Yunus over the perceived shortcomings of micro-credit, ...
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Doing Good Business
TIME - USA
Muhammad Yunus, the microfinancier who won the Nobel Peace Prize in 2006 for helping prove that making tiny loans to poor people can be profitable, ...
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Free market beats free food in fight against poverty
Scotsman - United Kingdom
But in Creating A World Without Poverty, Nobel Peace Prize winner Muhammad Yunus argues convincingly that social business is an achievable way of exploiting ...
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Yunus calls people 'bottom line of social business'
Earth & Sky - Austin,TX,USA
Economist Muhammad Yunus is on a mission to promote a new type of business for the 21st century. A social business according to Yunus' definition ...
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Muhammad Yunus on a 21st century business model
Earth & Sky - Austin,TX,USA
Nobel Peace laureate Muhammad Yunus is convinced that global poverty can be overcome. He spoke with Earth & Sky about what he calls a "social business" ...
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Davos: Par Deux
CSRwire.com (press release) - USA
Bill Gates made a public plea for more "compassionate capitalism" and Dr. Muhammad Yunus (Nobel Peace Prize winner) gave us the phrase "social business". ...
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Lessons from Davos: Gates' Creative Capitalism can also Work at ...
Huffington Post - New York,NY,USA
The fact is that where "Creative Capitalism" or Social Business, as Clinton's friend, Muhammad Yunus, the Bangladeshi professor he nominated for the 2006 ...

Prospect Magazine

April 2008 | 145

www.prospect-magazine.co.uk

The Bangladeshi economist has helped millions by pioneering microcredit. Now he has a new idea 'social business' which he believes can eliminate world poverty
Mark Hannam

Mark Hannam used to be an investment manager. He is chair of Fair Finance, a microfinance company in London
Muhammad Yunus is a modest man with much to be immodest about. In the mid-1970s, he started providing small loans to the poor of Bangladesh and in 1983 he established a bank, which he called Grameen (“of the village” in Bengali). Grameen flourished, and now employs 25,000 people. Every year it lends over $500m in small loans, primarily to women. This “microcredit” model has been copied all over the developing world, and in 2006 Yunus and Grameen Bank were jointly awarded the Nobel peace prize.

Not content with setting up one business, Yunus has created a series of companies under the Grameen brand name to provide cheap goods and services to the poor: mobile phones, student loans, knitwear, a textile mill, an eye clinic and, most recently, a joint venture with the French company Danone to sell low-cost yoghurt to rural children. Yunus has also written a manifesto for his style of entrepreneurship, which he calls “social business.” This, he claims, will make it possible to put an end to world poverty, and on a shorter timescale than most people think achievable. It is, then, a very big idea, even if he is only partly right about the scale of the benefits involved.

Chosun Ilbo (largest Korean daily) . Published on 25 March. [PDF file]

[Citywire book review]

Dear Mr. Yunus,
It is with great pleasure that I have finished today reading your book--"Creating a World Without Poverty." It was a surprise to see that you even have your mail in case someone wants to contact you.

I wanted to take the opportunity to send you a heart-felt thanks for bringing this fresh perspective to the way we should look into the world. Reading Sachs,Collier, or even Easterly, is really comforting because there is one common purpose, eradicating poverty, but your words have a little extra touch-- the great impact of your own actions.

It may also be so because you integrate different aspects, that some may consider disconnected, into one reality. The way you combine (i) a fully fledged market economy, (ii) a holistic view of human nature and (iii) technology advancement into one integrated view of how we all interact and develop society has been really reassuring, comforting.

Your approach is already proven and I hope the World Bank will truly embrace and support many of your initiatives.

I am always personally trying to bring the bright side of human nature to my friends and colleagues, not by sheer optimism, but because I have always believed that market economy--well understood--has unlimited potential if individuals embrace it with what it really means--providing their own services for both an economic and an emotional value (and people need to look deep inside of themselves to know what their services with added value really are!).

In addition--by pure enlightened self-interest--doing good to others and spreading peace and coexistence is the way to go forward; only then we will be in a true civilization (and a true market economy). Anyway, we are getting there, and you are really making it happen.

I will try to keep moving in the right direction!! I really like the idea of introducing´ways to shape the world´ in children's education. I may start exploring that avenue.

Again, thanks for the comfort, when reading you.

Best regards!!

Victor Esteban

World Ahead Program

Dr. Muhammad Yunus and Dr. Craig Barrett, Chairman of Intel Corporation join together to launch the most comprehensive deployments to date of the Intel World Ahead Program in Bangladesh.

Highest Honor from Saudi Arabia

prof-yunus-with-saudi-kingNobel Laureate Professor Muhammad Yunus receives highest honor from HM King Abdullah of Saudi Arabia on 5th September 2007

The Custodian of the Two Holy Mosques His Majesty King Abdullah bin Abdul Aziz yesterday decorated Nobel Laureate Professor Muhammad Yunus with the King Abdul Aziz medal at the Kingdom at the Saudi Royal Palace in Jeddah in appreciation of contributions toward confronting human development problems and introducing micro-credit system to combat poverty . The decoration is the Kingdom's highest honor awarded to civilians.

Professor Yunus flew to Jeddah on invitation of His Majesty King Abdullah on the afternoon of September 4. He was welcomed at the Palace by HM King Abdullah and had bilateral discussions with him lasting 90 minutes on international and regional issues, with particular focus on development initiatives for Muslim countries. During the meeting, Professor Yunus proposed to His Majesty the idea of creating centers of academic excellence in Muslim countries, as well as a Saudi scholarship fund under patronage of HM the King for students from Muslim countries to study at the top universities around the world.

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