2006 Nobel Peace Prize to Grameen Bank

The 2006 Nobel Peace Prize has been awarded to Muhammad Yunus of Bangladesh and Grameen Bank ”for their efforts to create economic and social development from below.”

The Norwegian Nobel Committee said, ”Lasting peace can not be achieved unless large population groups find ways in which to break out of poverty. Micro-credit is one such means. Development from below also serves to advance democracy and human rights.”

The unique bank lends money to some of the poorest people in Bangladesh and helps them start their own businesses.