"For their efforts to create economic and social development from below"
October 13, 2006 3:55 AM Subscribe
, 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
, 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."