Nobel Peace Prize Winner Muhammad Yunus Opens Fourth Grameen America Branch in Manhattan, NY

• Miscellaneous
• 24th May 2010
• YC

Grameen America, a not-for-profit microfinance organization founded by Professor Muhammad Yunus, celebrated the Grand Opening of its Manhattan branch and crossing 3,000 borrowers on Monday, May 17th. The ceremony took place at The Great Hall at City College of New York and was hosted by the Colin Powell Center for Policy Studies. Prior to this 2 branches in Queens and Brooklyn, NY and a third one in Omaha was opened because of strong local support and increasing demand of microfinance services.

“If it can be done in New York City, it can be done anywhere,” said Professor Yunus. “Just because we don’t take collateral doesn’t make us vulnerable. Just because you do take collateral doesn’t make you invincible.” Speaking directly to the 50 Grameen America borrowers in attendance he said, “Your enterprise is small, your loan size is small, but the dream is big. We will make the dream come true.”

Professor Muhammad Yunus opens the new Grameen America branch in Manhattan, New York on Monday, May 17 2010. This marks the debut of the fourth Grameen America branch in the United States with the others being in Jackson Heights NY, and Omaha NE.

The event featured Grameen America borrowers who told the stories of how they used their Grameen America loan to sell merchandise and food to support their families.

Apart from the opening of Manhattan branch, Professor Yunus launched his new book “Building Social Business: The New Kind of Capitalism that Serves Humanity’s Most Pressing Needs"” in several states of US and was also honored by the Pasteur Foundation for his outstanding contribution to improving health of poor people through the remarkable joint venture Grameen Danone, a social business to bring low-cost yet highly nutritious food to the poor, and fight the acute malnutrition that is quite prevalent in Bangladesh’s rural areas. Professor Yunus was also convocation speaker at the prestigious Rice University of Houston, TX and and Duke University in Durham, NC.