Muhammad Yunus, the Bangladeshi micro-credit pioneer, and his Grameen Bank have won this year’s Nobel Peace Prize. Yunus and his bank will share the prize.
Both are given credit for their efforts to create economic and social development from deep roots in Bangladesh by using innovative economic programs such as micro-credit lending.
Uma writes in his blog indianwriting about the success story of Mohammed Yunus and his brain-child Grameen Bank right from beginning in 1976 to 2006.
The Grameen Bank in Bangladesh has 6.6 million borrowers. 97 percent of them are women and the bank is providing services in more than 70,000 villages in the country.
