Founder of the global microfinance movement and Nobel Prize laureate Muhammad Yunus will be the keynote speaker at UCSD’s All-Campus Commencement Ceremony, according to a Jan. 19 online campus notice from university administration.

In addition to receiving the Nobel Peace Prize for economic and social development efforts in 2006, Yunus was awarded the U.S. Presidential Medal of Freedom in 2009 and the Congressional Gold Medal in 2010. According to the campuswide notice, Yunus was chosen as keynote speaker because of his dedication to social service.

“Yunus is known worldwide for pioneering the concept of microcredit and establishing the Grameen Bank to help impoverished people start their own businesses,” the statement said. “His commitment to social mobility and human rights aligns with UCSD’s tradition of service, making him the ideal speaker for UCSD’s first All Campus Commencement in 16 years.”

UCSD Chancellor Pradeep Khosla expressed enthusiasm for the new ceremony and commented that it would unite students from all six undergraduate colleges.

“We are very excited to begin a new commencement tradition at UCSD,” Khosla said in a university press release last year. “We are one university, one UCSD community. Creating a tradition that recognizes all of our graduates and their achievements, together, is the most fitting way to honor our newest alumni.”

The commencement ceremony will take place on June 11, 2016 at 10 a.m. on RIMAC Field and will include approximately 8,000 undergraduate students from all six colleges, as well as graduate students from various disciplines.