Economist Muhammad Yunus and the Grameen Bank of Bangladesh win the Nobel Peace Prize for 2006.


	Economist Muhammad Yunus and the Grameen Bank of Bangladesh win the Nobel Peace Prize for 2006.

anilarora

11-13-2006 7:54 AM

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THERE are many reasons to celebrate the award of the Nobel Peace Prize for 2006 jointly to Muhammad Yunus, the recognised creator of the "microcredit" model of finance for the poor that has swept across the developing world, and the Grameen Bank in Bangladesh that he founded three decades ago. These reasons go well beyond appreciation of the valuable human qualities of the man himself, such as his creativity, persistence, charisma and passionate advocacy in promoting this model widely and extending it in various ways. The reasons for celebration also go beyond regional pride  -   as South Asians, or even as citizens of the developing world in general.
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