For once, some good news. I’ve contributed to several of these kind of programs, inculding this one. The ones I contribute to these days are pretty much specifically targetted towards women.
A great idea, and a great honor for Yunus, well deserved.
Microloan Pioneer and His Bank Win Nobel Peace Prize – New York Times
Bangladeshi economist Muhammad Yunus and the Grameen Bank he founded won the Nobel Peace Prize on Friday for their pioneering use of tiny, seemingly insignificant loans — microcredit — to lift millions out of poverty.
Through Yunus’s efforts and those of the bank he founded, poor people around the world, especially women, have been able to buy cows, a few chickens or the cell phone they desperately needed to get ahead.
The 65-year-old economist said he would use part of his share of the $1.4 million award money to create a company to make low-cost, high-nutrition food for the poor. The rest would go toward setting up an eye hospital for the poor in Bangladesh, he said.
One Response
Thanks for posting this excellent news… and especially thank you for your support! At Grameen Foundation, we’re working to spread the Grameen Bank microfinance model around the world. For those new to microfinance: Learn more about microfinance and our worldwide programs. For more details on the Grameen Bank, Muhammad Yunus has published the very useful Grameen Bank at a Glance.