Microfinance creator to speak

By Sophie Asmar

Nobel Peace Prize winner Muhammad Yunus, who pioneered a microcredit system that gave people with little money the chance to be entrepreneurs, will speak on campus next week.

As the keynote speaker of "Transformative Changes through Science and Technology: The Role of Social Benefit Entrepreneurs," Yunus will open the conference next Thursday. The conference will deal with the ways in which environmental, technological and economic problems globally impact the underserved.

Yunus, founder and managing editor of Grameen Bank, became the first Bangladeshi to win the Nobel Peace Prize in 2006.

He started his work by lending $27 to 42 people, and converted the project into a full bank in 1983.

As of May, Grameen Bank has 7.5 million borrowers, 97 percent of whom are women, according to the Center for Science, Technology and Society's Web site.

Since its inception, the bank has lent more than $7 billion with a nearly 100 percent repayment rate.

Yunus has been awarded 28 honorary doctorate degrees, serves on the board of many organizations and has written several books.

"I really think microfinance could be a catalyst for significantly decreasing world poverty," said senior economics major Sarah Fleming. "To be able to see the godfather of microloans is going to be such a surreal experience."

The one-day conference, which will be put on by Santa Clara's Center for Science, Technology and Society, consists of the morning keynote address in Mayer Theatre, a networking lunch with facilitated discussions, an afternoon keynote address by Ashoka Chair and CEO Bill Drayton, breakout sessions with 2008 Tech Award Laureates, panel discussions and an evening networking reception.

Though the conference is open to the public, seating is no longer available.

Contact Sophie Asmar at (408) 554-4546 or at sasmar@scu.edu.