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Muhammad Yunus announces financing in Haiti

Associated Press Published: October 13, 2012
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The Germany-based Yunus Social Business Fund, formerly the Grameen Creative Lab, opened an office in Haiti after the temblor.

Yunus is a Bangladeshi banker known for developing a microcredit program for entrepreneurs who were too poor to qualify for traditional bank loans.

He sits on a board of more than 30 philanthropists, former government leaders and executives that advise Haitian President Michel Martelly on economic matters. Former President Clinton, also the United Nations special envoy to Haiti, is a co-chairman.

Yunus also plans to launch a nationwide social business competition for university students before leaving Haiti on Monday.