Microcredit Wins

The Nobel committee continues its rampage of making-news: Muhammad Yunus and Grameen Bank of Bangladesh were awarded the Peace prize. A true pioneer – his bank gives loans without collateral, relying on a system of trust and honor – he has done more to fight poverty than all those Bono jeans at Gap. As of May, 2006, the bank has 6.61 million borrowers, 97 percent of whom are women. With 2226 branches, the bank provides services in 71,371 villages around Bangladesh. A truly deserving recognition.

3 Replies to “Microcredit Wins”

  1. No doubt poverty reduction is way to peace. Pakistan and India must think about this while they are spending so much money on toys for their big kids to fight with each other.

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