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Prof. Muhammad Yunus & Grameen Bank Awarded The Nobel Peace Prize for 2006
Originally posted on sciy.org by Ron Anastasia on Fri 20 Oct 2006 01:28 PM PDT
The Norwegian Nobel Committee
has decided to award the Nobel Peace Prize for 2006, divided into two
equal parts, to Muhammad Yunus and Grameen Bank for their efforts to
create economic and social development from below. Lasting peace can
not be achieved unless large population groups find ways in which to
break out of poverty. Micro-credit is one such means. Development from
below also serves to advance democracy and human rights...more
When
we started giving out tiny loans under a system which later became
known as the Grameen Bank, we never imagined that one day we would be
reaching hundreds of thousands, let alone five million, borrowers.
Provides
credit to the poorest of the poor in rural Bangladesh without any
collateral. At Grameen Bank, credit is a cost effective weapon to fight
poverty and it serves as a catalyst in the overall development of
socio-economic.. more
There
are now more than two dozen organizations within the Grameen family of
enterprises. These include the replication and research activities of
Grameen Trust, handloom enterprises of Grameen Uddog and fisheries pond
management by Grameen Motsho or the Fisheries Foundation. More about
Grameen Family more
Microcredit
is the extension of small loans to enterpreneurs too poor to qualify
for traditional bank loans. It has proven to be an effective and
popular measure in the ongoing struggle against poverty, enabling
those. more
