2006 Nobel Peace Prize

The Nobel Peace Prize for 2006 has been joint awarded to Muhammad Yunus (Bangladesh) and the Grameen Bank (founded by Yunus) 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.

Muhammad Yunus has shown himself to be a leader who has managed to translate visions into practical action for the benefit of millions of people, not only in Bangladesh, but also in many other countries. Loans to poor people without any financial security had appeared to be an impossible idea. From modest beginnings three decades ago, Yunus has, first and foremost through Grameen Bank, developed micro-credit into an ever more important instrument in the struggle against poverty. Grameen Bank has been a source of ideas and models for the many institutions in the field of micro-credit that have sprung up around the world. (Nobel Peace Prize press release)

Check this article in the UK Guardian for more information about Muhammad Yunus, a truly inspirational man.

Learn more about micro-finance as a sustainable poverty fighting method here.