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martin schulz
10-13-2006, 01:51 PM
Muhammad Yunus and Grameen Bank win Nobel Peace Prize

The Nobel Peace Prize 2006 has been given to Muhammad Yunus and Grameen Bank in Bangladesh for their efforts to create economic and social development from below.

The Norwegian Nobel Committee made the announcement on Friday.

In its press release, the Nobel Committee says "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.Ħħ

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 many institutions in the field of micro-credit that have sprung up around the world.

"Every single individual on earth has both the potential and the right to live a decent life. Across cultures and civilizations, Yunus and Grameen Bank have shown that even the poorest of the poor can work to bring about their own development. " says the citation from the Nobel Committee in Norway.

Micro-credit has proved to be an important liberating force in societies where women in particular have to struggle against repressive social and economic conditions. Economic growth and political democracy can not achieve their full potential unless the female half of humanity participates on an equal footing with the male.

"Yunus's long-term vision is to eliminate poverty in the world. That vision can not be realised by means of micro-credit alone. But Muhammad Yunus and the Grameen Bank have shown that, in the continuing efforts to achieve it, micro-credit must play a major part. " says the citation.

Muhammad Yunus found the Grameen Bank in 1976. And the micro-credit model has been spread in Asia and many other places.

Funny - there is a guy that actually believes that freedom, democracy are somehow linked to not being poor and not having to hunger.

The guy must be totally out of his mind. We all know that democracy can only be established by force. If bringing freedom and democracy only has to do with getting people out of their miserably situation why aren't all bankers trying to provide credits for the poor?

I must be missing something...the guy is probably a socialist or even a commie...

jack grebe
10-13-2006, 01:53 PM
oh.....I thought someone got a cookie for settling the abortion thread:rolleyes:

TomF
10-13-2006, 09:01 PM
I find this a truly inspired choice. Heard an interview with him tonight, and he was sensational.

97% of the loans are repaid ... and before they are, 30% of the loan recipients are no longer living below the poverty line. The repayment rate is as high as it is, Yunus thinks, because these people really know that this is their one shot out of poverty.

And it works. Not only do the people climb out of poverty at a fantastic rate, but his bank's made profits each year for 16 years. And the bank's owners are the loan-holders themselves.

An enormously good news story.

High C
10-13-2006, 10:21 PM
I find this a truly inspired choice. Heard an interview with him tonight, and he was sensational...

I heard it, too, and what a deserving choice he is. A fantastic idea, with spectacular results! To help so many with so little money, simply amazing.

He serves as a great reminder to "think outside of the box". :cool: