03/18/2010 05:12 am ET Updated Dec 06, 2017

Adidas Scores Social Responsibility Points With 'One Euro Shoes'

In an effort to boost its social responsibility, Adidas is planning to make "one Euro shoes" for the millions of people around the world who cannot afford to buy shoes, The Telegraph reports.

The undertaking was suggested by Nobel prize winner Muhammad Yunus, who is regarded as the father of microloans, which help the poor start their own businesses and break the cycle of poverty.

The project will begin pilot production in Yunus' native country of Bangladesh next year on a nonprofit basis, with shoes sold at no more than the cost of manufacturing. However, the final sale price may be higher than the one Euro target, similar to One Laptop Per Child exceeding its initial 100 dollar pricetag.

The project will create jobs for local Bangladeshis and increase Adidas' "social business" street cred alongside other companies with socially responsible initiatives.

Get HuffPost Impact On Facebook and Twitter!