Microfinance Focus, October 14, 2011: During his two day visit to Haiti, microfinance pioneer, Prof. Muhammad Yunus met Haitian President Michel Martelly and is working towards bringing Social Business to the country.

Last month, 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.