Mega Crisis or Mega Opportunity? British Council Yunus Lecture

“Governments must remember the human aspect in the policies they are devising to bail out the financial institutions. We need a new system that does not leave out the billions at the bottom of the economic pyramid. If not, our global social and political problems are likely to be exacerbated.”

Professor Yunus, founder of the pioneering Grameen Bank micro-credit scheme in Bangladesh, talked about his vision for the future and described his ideas around "social business".

Addressing a public audience in London, Yunus described an alternative to the current financial system which works for “the collective benefit of others” and “whose purpose is to address and solve social problems, not to make money for its investors”.

He called on the world to see this as an opportunity to put our house in order and rebuild, redesign and reorganise the current system.

Martin Davidson, Chief Executive of the British Council, said “It is fitting that Professor Yunus joins us to celebrate our 75th anniversary and share his ideas on social business today. This lecture comes as the British Council launches a new and exciting project aimed at linking the UK’s vibrant community of social entrepreneurs with their counterparts around the world, to share expertise and knowledge and to develop joint approaches to addressing social, economic and environmental problems through social business."

 The British Council is the UK’s cultural relations organisation; we build trust and engagement amongst people around the world through activities in arts, sport, science, education, English and governance. We foster the cooperation and shared understanding needed for a safer, more prosperous future.

Talking without Borders, the British Council's 75th anniversary lecture series aims to address and inspire debate around some of today’s most pressing global issues - past speakers have included Archbishop Desmond Tutu and President Felipe Calderon of Mexico.

The University of Reading is the sponsor for a number of our 75th anniversary events, including today's lecture.

Professor Gordon Marshall, Vice-Chancellor of the University of Reading, said: “The University of Reading is delighted to be able to support the British Council’s 75th anniversary celebrations. The Council has played an important role in promoting UK Higher Education over many years.  Talking without Borders will provide a focus for discussion of many of today’s most pressing issues.  The University of Reading conducts leading-edge research in several of these areas and our staff look forward to contributing to the debate.”

Ends

A transcript of the speech will be available after the event from the British Council press office and can be sent upon request, please contact James Rowe on james.rowe@britishcouncil.org / 020 7389 4939

About Professor Yunus

Professor Yunus is the pioneer of microcredit – a method of banking where small loans are given to the poor, mostly women without collateral, for income generating activities to help them get out of poverty. As of May 2008, Grameen Bank had 7.5 million borrowers, 97 percent of whom are women and provided services in 82,072 villages, covering more than 97 percent of the total villages in Bangladesh. All the bank’s money comes from the depositors of the bank, representing a fundamental rethink on the economic relationship between the rich and the poor, their rights and their obligations.

About The British Council

Celebrating 75 years in 2009, the British Council is the UK’s international organisation for educational opportunities and cultural relations. We work in over 100 countries worldwide to build engagement and trust for the UK though the exchange of knowledge and ideas. Last year over 128 million people benefited from our projects. We are a non-political charitable organisation which operates at arm’s length from government. 

About The University of Reading

The University of Reading is ranked as one of the UK’s top research-intensive universities. The quality and diversity of the University's research and teaching is recognised internationally as one of the top 200 universities in the world. The Research Assessment Exercise (RAE) 2008 results confirm the standing of the University of Reading as a research-intensive university. Published in December 2008, the outcomes recognise over 87% of the university’s research to be of international standing. The University is home to more than 50 research centres, many of which are recognised as international centres of excellence such as agriculture, biological and physical sciences, European histories and cultures, and meteorology. The University takes a real-world perspective to its research and is consistently one of the most popular higher education choices in the UK.  www.reading.ac.uk.

Media information about the University of Reading from Alex Brannen or James Barr in the University press office on 0118 378 7388 / 7115