Posted AT 9:16 AM EST on 13/10/06
Banker to the poor takes Nobel Peace Prize
Oslo — Bangladeshi economist Muhammad Yunus and his Grameen Bank won the Nobel Peace Prize on Friday for pioneering the use of seemingly insignificant loans — microcredit — to lift millions out of poverty.
Through Yunus's efforts and those of the bank he founded, poor people around the world, especially women, have been able to buy cows, a few chickens or the cellphone they desperately needed to get ahead.
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