The best way to combat poverty is to help each person make money and stand on their own.
Tadashi Yanai, Chairman and President of Fast Retailing, which owns the Japanese clothing brand Uniqlo.
“Japan’s casual clothing brand Uniqlo and Nobel Peace laureate Muhammad Yunus said Tuesday they would create a textiles company in Bangladesh to help poor women gain financial independence.
Fast Retailing, which owns Uniqlo, plans to invest some 100,000 dollars to set up Grameen Uniqlo Ltd in October.
The new company will source materials and make garments in Bangladesh—including women’s underwear, school uniforms and blankets.
It plans to hire up to 2,000 local people within three years, drawn mainly from the eight million borrowers of Yunus’ ‘microcredit’ Grameen Bank, and train them to become financially independent by selling clothes.”
Read the official press release here.
