Let's talk about the financial and mining sectors. These are sectors in which Canada has a comparative advantage. Indeed, banks are more important, and the mining sector is very present both in Canada and elsewhere in the world.
I would like to give you two examples. These are not Canadian examples, but Canada could easily emulate them. First of all, in Ghana, in Africa, the AngloGold Ashanti company submitted a proposal to the Global Fund to Fight Aids, Tuberculosis and Malaria, and received funds to launch a project. This project was very successful. The company itself provided over $1.7 million in equipment, expertise and infrastructure over the five years of the program. So that is one example where the private sector really played a leadership role.
Then, in the banking sector, the Standard Bank of South Africa concluded an agreement to provide free financial training to those who received money from the Global Fund to Fight AIDS, Tuberculosis and Malaria, so that they would know how to manage the funds, etc. The bank provided this financial and accounting training. It's a very simple thing, but one that has a very practical and useful impact in the field. So those are the two examples I wanted to bring to your attention.
There are two things to underscore with regard to the 90% rate. We are in favour of profit, but not excessive profit. The 90% rate is very high. However, two weeks ago, I spoke to Mexican representatives of the non-profit sector who were present at the fifth Global Microcredit Summit in Spain. I asked them how much interest they charge, and they replied that they too asked for 90%. The private sector and the non-profit sector were asking for the same amount.
I should also mention that we accept profit essentially to ensure the continued survival of the undertaking, its financial viability, and not to enrich the investors, as Muhammad Yunus has pointed out himself. This allows the business to meet its costs. We have a very clear example of that outside the field of microcredit, in the association between the Grameen Bank and the Danone Yogurt company in Bangladesh. This association has allowed them to provide very low-cost yogurt everywhere in Bangladesh. This yogurt contains nutritional supplements, micronutrients aimed at raising the level of nutrition in Bangladesh. This was done so as to cover all of the costs of expansion throughout Bangladesh without repaying the investors. This is what is known as social enterprise. I think it is an important model if the private sector is to contribute to international development.