Professor Muhammad Yunus announced this week the launch of another social business, a joint venture between Grameen Bank and Veolia Water designed to bring drinking water to the poorest people of Bangladesh. Grameen-Veolia Water will supply clean water to more than 100,000 Bangladeshi and expand throughout Bangladesh. Bangladesh is already benefiting from social business ventures previously initiated by Professor Yunus that have been built around producing low-cost nutritious food for children and health care services, all while promoting the local economy and providing real employment opportunities. These ventures are proving that social business can be a revolutionary approach to affect social change.
With Grameen-Veolia Water poised to make clean water a common – rather than precious – commodity, Bangladesh has one more tool to ensure that it meets all the Millennium Development Goals set by the United Nations. This feat is sure to capture the attention of world leaders and serve as model for other countries seeking real development solutions.
Alex Counts is the President and CEO of Grameen Foundation.