PROFESSOR YUNUS URGES RECONSTRUCTING EXISTING ECONOMIC MODEL AT THE 18th WORLD MICROCREDIT SUMMIT in UAE
Press Release, 18 March 2016
Photo Caption:Nobel LaureateProfessor Muhammad Yunus is seen with other dignitaries at the 18th World Micro-credit Summit in Abu Dhabi, UAE. Attending guests included Sheikh Hamed Bin Zayed Al Nahyan, Crown Prince Court in Abu Dhabi , Prince Abdulaziz bin Talal Bin Abdulaziz Al Saud, Chairman of AGFUND, HM Queen Sofia of Spain, Sultan Bin Saeed Al Mansoori, Minister of Economy in the UAE, Hussain J. Al Nowais, the Chairman of Khalifa Fund for Enterprise Development and Larry Reed, the Director of the Microcredit Summit Campaign in the US.
Nobel Laureate Professor Muhammad Yunus emphasized on ‘reconstructing the existing economic model’ to address the worldwide economic disparity, poverty and chronic unemployment while addressing the ongoing 18th World Microcredit Summit in Abu Dhabi, UAE from 14th - 17th March 2016. Professor Yunus highlighted the role that social business can play in addressing massive youth unemployment in Arab countries which is 28 per cent in contrast to the global average of 12.4 per cent.
The Summit is being organized by Microcredit Summit Campaign, the UAE-based Khalifa Fund for Enterprise Development in partnership with Arab Gulf Programme for Development (Agfund) with participants from 70 countries. Sheikh Hamed Bin Zayed Al Nahyan, Crown Prince Court in Abu Dhabi and the board of trustees of Khalifa University, inaugurated the summit. Others who spoke at the opening of the Summit are Prince Abdulaziz bin Talal Bin Abdulaziz Al Saud,Chairman of AGFUND, HM Queen Sofia of Spain, a long time supporter of microcredit, Sultan Bin Saeed Al Mansoori, Minister of Economy in the UAE, Hussain J. Al Nowais, the Chairman of Khalifa Fund for Enterprise Development and Larry Reed, the Director of the Microcredit Summit Campaign in the US.
The Microcredit Summit began in 1997 and has held global and regional Summits since that year with the goal of reaching microcredit and other financial services to the poorest people, especially women, around the global. This Summit includes 19 plenary sessions where experts in the field would discuss their experiences, It also included a special plenary sessions on social business and another on the Professor Yunus' Nobin Udyokta (New Entrepreneurs) initiative.
Professor Yunus also participated the Arab Gulf Programme for Development (Agfund) prize committee meeting of which he is a member. He was also invited to deliver the closing speech of the Summit at the AGFUND Prize Giving Ceremony. AGFUND is the host of this year's Microcredit Summit in Abu Dhabi.
During the stay, Professor Yunus was received by Zayed bin Sultan Al Nahyan , the Ruler of Abu Dhabi at his Palace
Photo Caption - 2 :Nobel LaureateProfessor Muhammad Yunus with Sheikh Hamed Bin Zayed Al Nahyan, Crown Prince Court in Abu Dhabi, Prince Abdulaziz bin Talal Bin Abdulaziz Al Saud, Chairman of AGFUND and HM Queen Sofia of Spain.
