Sunday, October 15, 2006

Not exactly a ringing endorsement

Of one's own policies, when you receive the Nobel Peace Prize for financing poor entrepreneurs, you turn around and use the money to create a non-profit entity with a large French agri-business:

DHAKA: Muhammad Yunus yesterday said he would donate his share of the $1.4-million (BD527,757) prize money to good causes.

Yunus said he would use his share to fund a project to produce low-cost, nutritious food for the poor, an eye hospital, a drinking water project and a health care scheme.

"I will donate all my money to these enterprises. These will be purely social business enterprises, ie not-for-profit organisations," he said.

"I will use the money to finance our joint-venture food company with Danone so that the poor can eat high nutrition food at an affordable price," he said. ....

The French company is the world's biggest producer of fresh dairy products and bottled water with total sales of around $16 billion in 2005.

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