Press Release (Yunus Centre)
Nobel Laureate Professor Muhammad Yunus cuts a red ribbon at the opening ceremony of the Grameen Branch at the Old City Hall of Omaha, Nebraska on Monday 1, 2010. Grameen America is working in Queens and Brooklyn in New York for the last two years.
With this, Grameen America, a microfinance institution founded by Nobel laureate Professor Muhammad Yunus, headquartered in New York begins to expand nationally to build on its success of the other two branches in Queens, and Brooklyn, New York. Omaha was selected because of strong local support and demand for microfinance services. The branch will initially serve the low-income community in South Omaha and will subsequently expand operations to other areas. The branch expects to extend loans to at least 1200 borrowers by the end of 2010. Professionals, bankers and elites of the city gathered at the opening ceremony.
Professor Muhammad Yunus said, â€œIf we can address the issues of unemployment and welfare dependence properly through microcredit, then Omaha can be a example to the world.â€ He added, â€œ We lit a candle in New York and now it has made its way to Omahaâ€.
Preparations are under way to open the fourth branch of Grameen America in San Francisco in August this year.