Jam3000000amThu, 22 Mar 2007 07:14:55 +000007 21, 2007

The world’s smallest yogurt factory… in Bangladesh

Posted in Uncategorized at 3:15 p03 by minhdee87

Yogurt in Bangladesh

The 2006 Nobel Peace Prize Winner and founder of the now well-knowned Grameen Bank, Muhammad Yunus, has ventured into another microfinancing idea. Collaborating with Danone, a yogurt producer, Yunus has developed the Grameen Danone Foods. Going off his original idea of microfinance, Yunus proposed that this “world’s smallest yogurt factory” be another stepping stone for the people of Bangladesh to become self-sustaining.

“The plan is to re-invest all profits with the exception of paying back Danone their initial seed capital. The factory will buy milk from Grameen Bank microvenders (who’ve been financed by Grameen Bank to buy cows) and microentrepreneurs will sell the yogurt door-to-door. Each factory will employ 15-20 women directly and up to 1,600 people in an area.”

This process will, like the Grameen Bank, develop into a continous process where the people of Bangladesh can make a living on their own. They will be using their own resources to produce more resources, in which they will get to consume. The perk to this is that the yogurt is extremely affordable, costing about 7 cents a cup. Better yet, the yogurt factory is environmentally friendly and hires mainly women. The opening of the factory provides more job opportunities in the region, and allow more opportunities for entreprenuers in the region to succeed.

The Grameen Bank was so successful in its attempt to provide a means for people to make a living. I am very curious to see how the yogurt factory will work out. I think it’s a genius idea and will further strengthen the notion of microfinance. For more details on Yunus’ plans with the yogurt factory, visit Saving the world with a cup of yogurt.

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