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Professor Yunus meets political and business leaders in Moscow

Nobel Laureate Professor Muhammad Yunus visited Moscow on October 19-22 at the invitation of Ms. Elvira Sakhipzadovna Nabiullina, the Russian Minister for Economic Development and Trade, to discuss social business. Professor Yunus met with the Minister along with other high officials and discussed the scope for creation of social businesses. Minister identified "Monogradas" (company cities) in the remote regions of Russia, as the high-priority areas for launching social business experiments . There are 370 company cities, which became a big social and economic problem for the government. In these cities the population are suffering due to closure of the single giant company around which the city was created. This has lead to unemployment and collapse of the local economy. . Minister expressed appreciation for Professor Yunus's concept of social business and discussed in detail the modalities of initiating social businesses.

Professor Yunus with the Russian Minister for Economic Development and Trade, Ms. Elvira Sakhipzadovna Nabiullina at her office Professor Yunus also met with Yuriev Evgeny, Advisor to the President Medvedev on social issues. Advisor Evgeny sought advice from Professor Yunus regarding how to apply social business concept to solve two major problems, namely mothers with more than two children, most of whom are living under the poverty lines, and the problems of young people resorting to drinking and drug addiction. This upward rising trend is worrying the whole nation. The Advisor expressed government's wish to set up pilot social business projects to overcome these problems. It was decided that follow-up of these discussions will take place in Vienna next month when both of them will send high-powered delegations to Vienna to the Global Social Business Summit.

Professor Yunus signed a Memorandum of Understanding with the President of the Russian Chamber of Commerce aimed at establishing collaboration in promotion of social business in Russia.

Professor Yunus addressed the Russian Social Business Forum as the Chief guest. The Economic Development Ministry organized the Forum. Heads of government agencies, public and private banks, academics, NGO leaders attended the daylong Forum.

Professor Yunus also met with Maxim Nogotkov, Chairman of Svyaznoy Group. He is one of the leading entrepreneurs of Russia and wants to set up a Grameen Bank in Russia.

In Atlanta

Prior to visiting Moscow Professor Yunus was in Atlanta, USA. He was the key-note speaker at the Georgia Social Business Forum, organized by the University System of Georgia, held on October 17th, 2011, at the Georgia Tech Robert Ferst Center. Presidents of all 35 public universities of Georgia were present at the Forum. Georgia University System has 40,000 faculty members and 250,000 students.

In preparation of the Forum the students from all universities participated in a design competition of social businesses addressing social problems facing Georgia communities. A distinguished panel of judges consisting of business Professors, CEOs of top-level companies, and noted personalities from across the USA judged the business plans by students. The Nobel laureate presented awards to the winners of the social business plan competition. During the conference Chancellor of the University System Professor Hank Huckaby, announced creation of "Georgia Social Business Fund" to invest in social businesses in Georgia.