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Yunus defends the social enterprise and microcredit in Paris

source : Paperblog

Invited to Paris by Veolia and others, Muhammad Yunus spent a few days there to take part in several conferences about the social enterprise and re-clarify his vision of microcredit: “Microcredit isn’t a miracle solution but a necessary tool for providing finance to those who are excluded from the system,” he declared in a video distributed by the Youphil media company.

During his exchanges with Michal Rocard and other key figures at the Conseil Economique, Social et Environnemental [French National Economic, Social and Environmental Council], Yunus reviewed the Grameen Bank’s partnerships with Danone and Veolia mulinationals, which help yoghurt production and drinking water distribution to poor people in Bangladesh. He called for “stepping outside the usual business reference frames,” if even Grameen’s corporate alliances are at the “experimental stage”, as he put it.

Furthermore, “stepping outside the box” is the issue raised in his latest book “Pour une économie plus humaine. Construire le social-business” [For a healthier economy – build social-business”], which has just been published in French by JC Lattès. In this book, Yunus pleas for an alternative form of corporation, the social business: “Unlike charitable organisations, a social business has investors and owners. But they don’t receive profits, dividends or any other form of financial benefit. Investors may only recover their initial outlay.” Just like at the Grameen Bank.

This article is part of the special report: