Friday, October 13, 2006

Microcredit - Muhammad Yunus - Nobel Price

The developers of Microcredit are going to get the Nobel Peace Price of 2006. The two men have developed this model in Bangladesh. It's an ever more important instrument for the struggle against powerty.
  • Muhammad Yunuses long term vision is to remove powerty from the world
  • Grameen Bank
Women in particular have been a target group for Microcredits. The Finnis ex-president Ahtisaari was one of the potential Nobel price winners.


As founder of the Grameen Movement, Professor Muhammad Yunus is a revolutionary. His ideas couple capitalism with social responsibility and have changed the face of rural economic and social development forever.

Professor Yunus
is responsible for many innovative programs benefiting the rural poor. In 1974, he pioneered the idea of Gram Sarker (village government) as a form of local government based on the participation of rural people. This concept proved successful and was adopted by the Bangladeshi government in 1980. In 1978, he received the President's award for Tebhaga Khamar (a system of cooperative three-share farming, which the Bangladeshi government adopted as the Packaged Input Program in 1977).

A Fulbright Scholar at Vanderbilt University, Professor Yunus received his Ph.D. in Economics in 1969. Later that year, he became an assistant professor of Economics at Middle Tennessee State University, before returning to Bangladesh where he joined the Economics Department at Chittagong University.

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