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October 23, 2006
Muhammad Yunus, 2006 Nobel Peace Prize Laureate
Muhammad Yunus, the microfinance entrepreneur and founder of the world renowned Grameen Bank, won the Nobel Peace Prize last week. It is a tremendous achievement which will bring not just microfinance but social entrepreneurship and BoP to the spotlight. Their efforts to create social and economic benefit addressing the world poor has proven not only to be an innovative idea, but a sustainable one which can directly be related to poverty reduction, thus having a direct impact on world peace.
The Grameen Bank has issued more than US$ 5.1 billion to 5.3 million borrowers, having the model being used in more than 23 countries. The Norwegian Nobel Prize Committee explained it as follows: “Lasting peace cannot 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.”
There are more initiatives intended to relieve poverty through other sectors, such as the Grameen Phone, Grameen Star Education and Grameen Check. Our most sincere congratulations to the 2006 Nobel Peace Prize Laureate.
Know more about Muhammad Yunus
Know more about the Grameen Bank
Ashoka's Video Series, Featuring Muhammad Yunus
Posted on 23 October 2006 in Social Entrepreneurship, Corporate Responsibility, Development
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