2006 Nobel Peace Prize
Encyclopedia
The 2006 Nobel Peace Prize was awarded to Muhammad Yunus
and Grameen Bank
"for their efforts through microcredit to create economic and social development from below".
Muhammad Yunus
Muhammad Yunus is a Bangladeshi economist and founder of the Grameen Bank, an institution that provides microcredit to help its clients establish creditworthiness and financial self-sufficiency. In 2006 Yunus and Grameen received the Nobel Peace Prize...
and Grameen Bank
Grameen Bank
The Grameen Bank is a microfinance organization and community development bank started in Bangladesh that makes small loans to the impoverished without requiring collateral...
"for their efforts through microcredit to create economic and social development from below".