Chief Adviser Professor Muhammad Yunus on Monday said that poverty is not created by poor but is rather a product of flawed economic systems that concentrate wealth at the top.
He asserted that social business and microfinance can be powerful tools to lift millions out of poverty and foster sustainable development.
"Poverty is not created by poor people. It is a consequence of an economic system where resources surge upwards, concentrating wealth ever more narrowly," Prof Yunus said in his keynote address at the Earthna Summit 2025, organised by Qatar Foundation in Doha.
Speaking on the topic “Exploring the role of social business, financial inclusion, and microfinance in fostering sustainable development and economic opportunities for marginalised communities”, Yunus shared how social business and microcredit have transformed the lives of millions in Bangladesh and beyond.
He said social business, backed by financial inclusion, can break the poverty trap. "I will share firsthand experiences of the power of two interrelated approaches—social business and microcredit—that have uplifted marginalised communities in my own country."
In Bangladesh, he noted, the microcredit model has proven that even the poorest individuals are creditworthy. Grameen Bank, founded by Prof Yunus, pioneered this model by offering small, collateral-free loans, empowering millions—especially women—to become entrepreneurs and improve their livelihoods.
“Grameen Bank lends over US$ 2.5 billion annually to 9 million women, with a repayment rate of nearly 99%,” he said. Globally, more than 300 million people have benefited from microcredit initiatives.
He also highlighted the success of Grameen America, which has disbursed over US$ 600 million in loans to more than 86,000 low-income women in the United States, maintaining a repayment rate exceeding 99%.
Yunus cited inspiring stories, such as Damaris in Boston expanding her restaurant and Reyna in Texas growing her boutique, as examples of microcredit’s transformative impact. He also mentioned Kiva, a platform that has facilitated over US$ 960 million in loans across 82 countries.
Turning to social business, he said numerous ventures have addressed critical issues, including Grameen Danone Foods, which provides fortified yogurt to malnourished children in Bangladesh, and Grameen Euglena, which produces nutritious cookies while supporting local farmers.
Globally, he cited social businesses such as Golden Bees in Uganda, Impact Water in schools, and Human Harbor Corporation in Japan—which tackles waste recycling and provides jobs to ex-prisoners—as proof of the model's potential.
"The rising number of social business funds and growing global interest from corporations and youth underscore the expanding impact and relevance of this model,” he said.
Prof Yunus reiterated his vision of achieving three zeroes—zero poverty, zero unemployment, and zero net carbon emissions—adding a fourth goal: zero waste. “This is not a utopia. It is a vision rooted in what I have witnessed firsthand.”
Zero waste, he explained, is not just a philosophy but a practical approach aimed at eliminating waste generation through design, reuse, recycling, and composting, promoting sustainable production and ethical consumption.
He also emphasized the importance of integrating traditional knowledge and cultures into sustainable development. "Traditional solutions often provide the best cure for many modern problems. All our efforts must build on them to ensure lasting sustainability," he said.
Sheikha Moza bint Nasser, Chairperson of Qatar Foundation, and Sheikha Hind bint Hamad Al Thani, Vice Chairperson and CEO, along with global leaders and policymakers, were present at the summit.
