SOURCE: ACCION; Calvert Foundation; Co-Operative Bank; FINCA; Freedom From Hunger; Grameen Foundation; Grassroots Capital; Microvest Fund; Opportunity International; Pro Mujer; Triple Jump; Visionfund International; Women's World Banking

March 08, 2011 13:02 ET

An Open Letter in Support of Dr. Muhammad Yunus

WASHINGTON, DC--(Marketwire - March 8, 2011) - Muhammad Yunus has diligently served the poor for decades. No one has done more to inspire generations to work to reduce poverty. 

We are increasingly concerned and dismayed with the troubles Nobel laureate Muhammad Yunus is facing in Bangladesh. As we understand it, the Government of Bangladesh is resorting to technicalities to remove Dr. Yunus from the Grameen Bank, without presentation through legitimate and transparent legal processes of any evidence of wrong-doing.

We deeply deplore this lack of justice and unproven allegations that not only impugn Dr. Yunus' character and the integrity of his flagship bank, but reach much further. Forced removal creates unnecessary risk for the more than 8 million borrowers-owners of the bank. The Government of Bangladesh previously had respect for the bank's independence as a majority client-owned microfinance institution; it is our sincere hope that a return to the status quo can be made quickly.

Dr. Yunus has played a seminal role in the development and recognition of microfinance -- the provision of small, working-capital loans and other financial services for the entrepreneurial poor. He has our strong support, and our wishes for a just and speedy resolution to this sad turn of events. 

Sincerely,

ACCION
Calvert Foundation
Co-Operative Bank
FINCA 
Freedom From Hunger
Grameen Foundation
Grassroots Capital
Microvest Fund
Opportunity International
Pro Mujer
Triple Jump
Visionfund International
Women's World Banking

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