< /head > Colorado Coalition for Human Rights: Micro-Credit Pioneer Wins Peace Prize

Sunday, October 15, 2006

Micro-Credit Pioneer Wins Peace Prize


From the Washington Post:

Bangladeshi economist Muhammad Yunus and the Grameen Bank he created won the Nobel Peace Prize on Friday for leveraging small loans into major social change for impoverished families...

Yunus said he believes the Nobel committee endorsed his view that bridging the gap between rich and poor countries in an age of increasing globalization is critical to reducing conflict around the world.

"You cannot go on having absurd amounts of wealth when other people have problems of survival," he said. "If you can bring an end to poverty, at least from an economic point of view, you can have a more livable situation between very rich people and very poor people, very rich countries and very poor countries. That's our basic ingredient for peace."

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