In 2006, Danone and the Grameen Group signed an agreement to create Grameen Danone, a social business with a focus on improving health through making healthy, nutritious food. It would break even but its emphasis would be on helping as many people as it could. Indeed, the first factory was set up in Bangladesh in Bogra, about 140 miles north of the capital, Dhaka. Furthermore, Danone created a mutual fund in 2007 that would raise $135 million and have an interest rate of between 3 and 4% in order to expand their social businesses. The social business model ends up both employing many of the extreme poor in Bogra as well as distribute healthy food to the people of Bangladesh in a socially and environmentally responsible way.
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