Moscow to introduce social business on Yunus concept
Friday, 20 November 2009
Moscow City, once the capital of the defunct socialist Soviet Union, is likely to implement social business advocated by Nobel-laureate economist Professor Muhammad Yunus to address numerous urban social and economic problems, reports UNB.
Mayor of Moscow Yuri Luzhkov has announced his decision to implement the social-businesses concept, apparently broached as a surrogate for the non-profit socialist business.
This announcement came after a meeting on November 17 between Professor Yunus and the mayor.
He has already introduced microfinance to the city of Moscow to tackle a range of social problems after the last visit Professor Yunus made in April, 2008.
The mayor has announced the formation of a Committee headed by the deputy mayor which will include a representative of Professor Yunus, senior officials of the Moscow City Government, and the Russian Microfinance Center (RMC) to design and implement these social-business schemes.
Mayor of Moscow Yuri Luzhkov has announced his decision to implement the social-businesses concept, apparently broached as a surrogate for the non-profit socialist business.
This announcement came after a meeting on November 17 between Professor Yunus and the mayor.
He has already introduced microfinance to the city of Moscow to tackle a range of social problems after the last visit Professor Yunus made in April, 2008.
The mayor has announced the formation of a Committee headed by the deputy mayor which will include a representative of Professor Yunus, senior officials of the Moscow City Government, and the Russian Microfinance Center (RMC) to design and implement these social-business schemes.