
Bangladeshi microfinance bank Grameen and French food giant Danone have teamed up to create micro-nutrient ‘power yoghurt’ Shokti Doi. The Grameen Danone Foods social enterprise pairs up Danone’s expertise in making the yoghurt with Grameen’s marketing knowledge of and reputation in Bangladesh to create a product aiming to fight child malnutrition and provide local jobs. Grameen has been active for over three decades, making small loans to poor Bangladeshis with no collateral who large western banks will not touch. These customers are people such as the thousands of ‘Grameen Ladies’ who are now selling Shokti Doi in villages across Bangladesh for a small profit on each pot they sell. Unusually for today’s global banking system, the loans are based on trust- but as Muhammad Yunus, the founder, points out “such loans have a 100% repayment record”. After initial problems Shokti Doi is now doing well and there is hope that it will achieve its social objectives, and maybe even become a national product in Bangladesh. Read more... login or register to post comments