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. [BBC News]
Definitely well deserved. The Grameen bank is well known all over the world for helping women in Bangladesh empower themselves, pull themselves out of poverty and provide them with self-respect. I’m more surprised he did not win earlier.
[hat tip: Mirax and Shoque in the comments]
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Filed in: Bangladesh,South Asia