Nobel Peace Prize to Muhammad Yunus and the Grameen Bank

Saturday, October 14, 2006

The microcredit Grameen Bank and its creator, Muhammad Yunus, are jointly awarded the Nobel Peace Prize "for their efforts to create economic and social development from below."

Most people were expecting the founder to be nominated for the Economics Nobel prize but the Norwegian Nobel Institute decided to award him the Peace Prize for his attempt to destroy poverty, emphasizing women who have to "struggle against repressive social and economic conditions".

Yunus, from Bangladesh, said "We want the same kind of unity in politics like the unity that has been created by the Nobel prize award," at a press conference at the bank's office in the suburbs of the Bangladeshee capital, Dhaka.

In 2005, the Nobel Peace Prize was also awarded jointly to the International Atomic Energy Agency (IAEA) and Mohamed ElBaradei (محمد البرادعي) (Egypt).