Professor Yunus joins Hillary Rodham Clinton in New York

02 October 2014

GCU Chancellor Professor Muhammad Yunus

GCU Chancellor Professor Muhammad Yunus

Professor Muhammad Yunus joined former United States Secretary of State Hillary Rodham Clinton in New York to announce a commitment by Grameen America to invest $50million in more than 7000 women-owned businesses in the city’s Harlem area.

Grameen America is dedicated to helping women who live in poverty build small businesses to create better lives for their families. It offers microloans, training and support to transform communities, create jobs and fight poverty in the US.

Since its launch by Nobel Prize Winner Professor Yunus in January 2008, Grameen America has disbursed more than $180 million in microloans to over 36,000 women across the States. The programme is now being expanded to serve low-income women in Harlem, NYC.

Grameen America's first branch in Queens to date has invested almost $70 million in nearly 7500 women-owned businesses. The branch generates sufficient income to run all operations, making it the first and only sustainable micro-lending effort in the US.

The latest announcement was made at the 2014 Clinton Global Initiative Annual Meeting.