Nobel laureate Prof Muhammad Yunus suggested that some part of development aid could be exclusively devoted to financing social business initiatives or sustainable enterprises that address social needs while unleashing the creative energies of communities.

The Bangladesh economist made the call in an hour-long meeting with Canadian Finance Minister Bill Morneau on Friday.

Yunus also attended a number of meetings on social business and microcredit in Canada last week.

The Nobel laureate and Morneau discussed development strategies, including the role of social business, said Yunus Centre in Dhaka yesterday.

They talked in particular about Yunus Social Business initiatives in Haiti and Africa where funds have been created to support social businesses.

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