12.11.2006

Bangladeshi Wins Nobel Peace Prize for Microcredit









Yunus proves that small change can have a big impact. Would terrorism exist if we eradicated poverty?

"Muhammad Yunus accepted the Nobel Peace Prize on Sunday for his breakthrough program to lift the poor through tiny loans..."

"To me, globalization is like a hundred-lane highway crisscrossing the world," Yunus said. "If it is a free-for-all highway, its lanes will be taken over by the giant trucks from powerful economies. Bangladeshi rickshaws will be thrown off the highway."

"Rule of 'strongest takes it all' must be replaced by rules that ensure that the poorest have a place and piece of the action, without being elbowed out by the strong," he said.
"The average loan is about $200, and interest rates range from zero to 20 percent depending on how the money is used. About 7 million people have Grameen loans, 97 percent of them women."

[AP]
[AP Photo/Pavel Rahman]

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