Nobel for anti-poverty pioneers
By John Richard,WNS Norway Correspondent
OSLO - Bangladesh's Muhammad Yunus and the Grameen Bank have been awarded the 2006 Nobel Peace Prize. Mr Yunus, an economist, founded the bank, which is one of the pioneers of micro-credit lending schemes for the poor in Bangladesh. The bank is renowned for lending money to the least well-off, especially women, so that they can launch their own businesses. The winners receive a prize of 10m Swedish kronor ($1.07m, £730,000).
"I'm very very happy. It's a great honour for us and for Bangladesh. It's a recognition of our work," Mr Yunus told WNS, "As a Bangladeshi, I'm proud that we have given something to the world. Our work has now been recognised by the whole world. " The winners were revealed by the Nobel committee chairman, Ole Danbolt Mjoes, in Oslo.
Mr Mjoes said Mr Yunus had shown himself to be a leader who had managed to translate visions into practical action for the benefit of millions of people. He and the bank were being honoured "for their efforts to create economic and social development from below", Mr Mjoes said. He said the bank's work in creating opportunities for large numbers of people to get out of poverty created the conditions for sustainable peace. "Development such as this is useful in human rights and democracy," said Mr Mjoes. He says in awarding this prize to an economist, the Nobel Committee has again shown itself willing to widen the scope of the prestigious prize.
Mr Yunus set up the bank in 1976 with just $27 from his own pocket. Thirty years on, the bank has 6.6 million borrowers, of which 97% are women, according to the Grameen website. Mr Yunus is expected to pick up the award and prize money during a ceremony in Oslo in December.
posted by wnsworld @ 11:31 AM
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