"For their efforts to create economic and social development from below"
October 13, 2006 3:55 AM Subscribe
In 1976, a young Bangladeshi economics professor named Muhammad Yunus founded Grameen Bank to implement microcredit — lending small sums to the very poorest members of society. Today, he and his bank share the Nobel Peace prize. Grameen, a profit-making company with social objectives, has lent $5.3bn to 6.4m people. 97% of borrowers are women, as Yunus believes [video] "men will do whatever they could to enjoy for themselves personally [but] women looked at it for the children, for the family and for the future."
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