IIC and The Grameen Creative Lab Sign Memorandum of Understanding to Establish a Strategic Partnership on Social Business in Haiti

09/21/2011

IIC, GCL believe that social business can be a powerful tool to further economic development and reduce poverty in a sustainable way

New York, U.S.A. - On September 21, 2011, the Inter-American Investment Corporation (IIC) and The Grameen Creative Lab (GCL) signed a memorandum of understanding to collaborate in the promotion of social business to tackle poverty and further development in a sustainable manner. In 2010, GCL together with SAP, its corporate partner in Haiti, launched the YY Haiti (Yunus and You Haiti) initiative. The IIC and GCL will explore ways in which they can work together to finance social businesses in Haiti and facilitate support measures, such as business development services, to incubate, strengthen, and expand self-sustainable social businesses in Haiti, especially in the field of education and vocational training, environment and agriculture, and nutrition.

"Haiti has the wealth of creative entrepreneurs. Our initiative is dedicated to put institutional framework in place so that this creativity can be utilized for social business that is the business to solve social and economic problems" said Prof. Muhammad Yunus, Co-Founder of The Grameen Creative Lab (GCL).

Mr. Jacques Rogozinski, IIC General Manager, added "For the IIC, the signing of this MOU establishes ties of long-term friendship and areas of common interest with The Grameen Social Creative Lab, especially in the promotion of social business in Haiti. Promoting the concept of social business, unlocking economic potential, reducing poverty, creating employment and self-employment, and responding to environmental challenges are all part of the IIC’s business strategy."

The signing ceremony took place at the Sheraton Hotel and Towers. On behalf of the IIC signed Messers Luis Alberto Moreno, Chairman of the Board of Executive Directors, and Mr. Jacques Rogozinski, General Manager. For GCL signed Prof. Muhammad Yunus, Co-Founder, and Ms. Saskia Bruysten, CEO and Strategic Director.

About the GCL

  • The GCL is an organization founded by Nobel Peace Prize Laureate Muhammad Yunus and German serial entrepreneur Hans Reitz with the vision is to serve society’s most pressing needs. The GCL's mission therefore is to accelerate social business by creating broad awareness for the social business movement and foster the establishment of social businesses around the World. It does so by hosting inspiring events that build a platform for the social business community
  • offering advisory and consulting to corporations, governments, development agencies and NGOs
  • providing financing & incubation of social business entrepreneurs and projects
  • conducting research & advocacy to advance the social business field

Based in Germany, with offices in Haiti, India and Colombia, and deep links to Bangladesh, GCL has committed to establish social business as a mainstream concept and bring the vision of Muhammad Yunus to life. For more information on the GCL’s activities, please visit http://www.grameencreativelab.com

About the IIC

The IIC is a multilateral financial institution that is a member of the Inter-American Development Bank (IDB) Group. The IIC’s mission is to promote the economic development of its regional member countries by encouraging the establishment, expansion, and modernization of private enterprises, particularly those that are small and medium in size. It does so by providing financing (in the form of equity investments, loans, guarantees, and other instruments) and advisory services to private enterprises in Latin America and the Caribbean. In 2010, the IIC reached US$1.4 billion in assets and approved forty-nine operations channeling US$374.8 million to SMEs in the region. For more information on the IIC’s activities, please visit www.iic.org

Contact: Jacques Antebi

Telephone: (202) 623-3313

Email: jacquesa@iadb.org