14 Oct 2006

Muhammed Yunus and his Grameen Bank of Bangladesh wins Nobel Peace Prize 2006

The Nobel Commitee lived up to its expectation by picking a unique awardee this year. This years winner is the bangladeshi economist Muhammed Yunus and his Grameen Bank (translation: Rural Bank).

Mr Yunus started the bank in 1976 and today his bank has around 6.6 million borrowers, making it perhaps one of the biggest economic successes in his country.

The award also brings into focus the country of Bangladesh. I sincerely hope that this awards proves to be a shot in the arm for other such initiatives in the country.

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