Monday, 24 June 2024

Muhammad Yunus

Bangladesh

Champion's Profile

Muhammad Yunus is a Bangladeshi social entrepreneur, banker, economist, and civil society leader who was awarded the Nobel Peace Prize for founding the Grameen Bank and pioneering the concepts of microcredit and microfinance.

UNDP SDG

Quality Education, Clean Water, Affordable and Clean Energy and Decent Work and Economic Growth

Description and impact

These loans are given to entrepreneurs too poor to qualify for traditional bank loans. Yunus Social Business (YSB) is a profit and non-profit venture fund that turns philanthropic donations into investments in sustainable social businesses. Companies like Impact Water that have been financed by YSB tackle similar challenges to those traditionally addressed by aid agencies or charities, providing employment, education, healthcare, clean water and clean energy. YSB has supported over 3000 Entrepreneurs, completed a revenue of per year $ 13 Million of social business financing, helped create over 30,000 jobs and impacted the lives of over 3 million people in Colombia, Brazil, Haiti, The Balkans, Tunisia, India and Uganda.