Grameen America opens new branch in New York
Grameen America opens new branch in New York
Grameen America has opened a new branch in Harlem in New York City to serve low-income women.
Nobel laureate Muhammad Yunus inaugurated the Grameen America Inc's (GAI) new branch on Thursday, Yunus Centre said in a statement yesterday.
This is the seventh GAI branch in New York City. The other branches are located in Jackson Heights, Queens, Brooklyn, Bronx and Manhattan.
GAI currently operates 19 branches in eight US cities targeting the women from low-income groups.
Earlier in the week, Prof Yunus and former US secretary of state Hillary Rodham Clinton jointly announced GAI's commitment to invest $50 million in over 7,000 women-owned businesses in Harlem through 2020.
Yunus was in New York to participate in the 10th annual Clinton Global Meeting and UN Secretary General Ban Ki Moon's Millennium Development Goals Advocacy Group Meeting from September 20-29.
Andrea Jung, chief executive of GAI, and potential clients were present at the branch opening.
Founded by Yunus in 2008, GAI provides loans, savings programmes, financial education and credit establishment to women who live in poverty in the US. All loans must be used to build small businesses.