Social Business Fund for Haiti to help rebuild the country
Nobel Laureate Professor Muhammad Yunus was in New York, where he attended the MDG Advocacy Group meeting on 20th September 2011. The meeting was presided over by President Kagame of Rwanda, who is the co-chair of the Group, created by the Secretary General Ban Ki-Moon. Other co-chair is the Secretary General himself. The Group discussed and adopted the Action Plan for the Group which included a series of social business initiatives in various countries and stipulates a Social Business Tour of Africa to stimulate initiation of social businesses in Africa to achieve Millennium Development Goals.
In another session at the Clinton Global Initiative, Professor Yunus, who is a member of the Presidential Economic Advisory Council of Haiti, along with President Clinton, former President Uribe of Colombia, and others, appointed by President Martelli of Haiti, participated in the intensive discussion on Haiti's future economic and social actions. Professor Yunus emphasized the critical role the youth of Haiti can play in rebuilding Haiti, and argued that social business would have a tremendous impact on the reconstruction of Haiti's economy and social fabric. In a separate ceremony he signed an MOU with Luis Alberto Moreno, the President of Inter American Development Bank, to undertake joint programs in Haiti. A social business fund for Haiti has already been established. This fund will provide funding to anyone wishing to set up a social business in the country.
On 22nd September, Professor Yunus participated in a plenary session at the Clinton Global Initiative titled "Engaging Boys and Men as Allies for Long-term Change" and the other speakers included former President of Chile, Michelle Bachelet and President of Rwanda, Paul Kagame. During this plenary, Professor Yunus said, "It is not just the responsibility of women alone to pull their families out of poverty, but also that of the men. And men and boys have to stand in solidarity with women and girls as they fight for their empowerment."
Professor Yunus was a key note speaker at the 2nd Social Good Summit, where Matthew Bishop, US Business Editor for The Economist magazine, engaged him in a conversation on various issues to a packed audience at the famous 92St. Y. Professor Yunus stressed the importance of social business, saying that it was needed to solve the vast problems that the world is facing today.
Professor Yunus was also in conversation with Randi Zuckerberg, on the sidelines of the CGI meetings. Professor Yunus said, "We need to get to a place where profit making will not be the only option in business, it will one of the two major options, other option being the social business, i.e., engaging in business exclusively to solve problems. Once we can get to that reality, we will see the world with very different eyes. Things that seem impossible will suddenly become possible."
Professor Yunus met the former President of Bulgaria, Peter Stoyanov, in an exclusive private lunch. Mr. Stoyanov expressed a desire to start social business in Bulgaria. Mr. Stoyanov invited Professor Yunus to visit Bulgaria in the coming months to explore the potential for social business in the country.
In other news, Professor Yunus attended two premieres of documentaries showing the impact of microfinance. On the 21st, Professor Yunus was at the premiere of "To Catch a Dollar," a documentary, created by Gayle Ferraro, showing the impact of microcredit in America. On the 22nd, Professor Yunus was at the world premiere of "Bonsai People---The Vision of Muhammad Yunus" created by award winning filmmaker Holly Mosher. "Bonsai People" is a film about the work of Professor Yunus, microfinance and social business.
Professor Yunus went to Chicago on the 23rd, to receive St Vincent DePaul Award from Depaul University. President of the University announced that the university will launch a social Business design competition for the students to make them familiar with the power of social business in solving social problems.
On the 25th, Professor Yunus will be the chief guest at the grand opening of Grameen America's branch in Bronx, New York. This branch will join a network of 6 other Grameen America branches, and will be the 4th branch in New York. Grameen America branches gave micro loans averaging $1500 to more than 6,000 women borrowers in NY City.
