Microfinance Pioneer Receives Nobel Peace Prize

Microfinance Nobel Peace Prize
Adding more traction to the microfinance space, Bangladeshi banker and Grameen Bank founder Muhammad Yunus has won the Nobel Peace Prize.

He intends to use the prize money to set up a food company and a hospital in Bangladesh.

“Lasting peace cannot be achieved unless large population groups find ways in which to break out of poverty,” the Nobel Committee said in its citation. “Microcredit is one such means. Development from below also serves to advance democracy and human rights.”

To learn more about microfinance, check out the entry over at Wikipedia. Congrats to Muhammad Yunus, he truly deserves this.

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