The technical support from USAID will help us to amplify the impact achieved by our Social Business Incubator Funds. USAID’s financial contribution will act as the catalyst in attracting new private sector capital into Social Business, enabling YSB to invest in more social businesses, and to reach even more poor people than before. YSB offices and programs in Haiti, Albania, Brazil, Colombia and Uganda
, will seek to collaborate with USAID Bureaus and Missions to find and implement solutions together, combining USAID's vast international development knowledge with YSB's expertise in Social Business. I am excited to be joined by USAID in our effort to advance the concept of Social Business.
"USAID partners with organizations like YSB that are taking innovative approaches to supporting social entrepreneurship that improve the impact of our own development interventions", Raj Shah said.
In addition to the MOU signing, Professor Muhammad Yunus addressed the staff of USAID on the subject of “Microfinance, Social Business and Eradicating Extreme Poverty”. All senior officials and employees of USAID including USAID Administrator Rajiv Shah and Ms. Nisha Biswal, currently Assistant Administrator of USAID, who has recently been nominated by President Barack Obama to head the Bureau of South and Central Asian Affairs at the US Department of State, and senior staff other agencies attended the lecture.
Professor Muhammad Yunus also participated in a separate event titled as "Conversation with USAID Adminstrator". Besides Raj Shah, Alex Their, USAID's Assistant to Adminstrator on Policy, Planning and Learning (PPL) and other senior USAID staff participated in this event focused on “Eradicating Extreme Poverty" live on social media.