Cerebral Shangrila

Friday, October 13, 2006

Nobel Peace Prize 2006

Worthy cause and a worthy individual. The Nobel peace prize for 2006 would be shared equally between Grameen Bank and its founder Muhammed Yunus. The nobel citation reads , " for their efforts to create economic and social development from below".

A pioneer in micro credit, Grameen has helped disburse tiny loans to millions of poor people who would have otherwise never gotten a loan from elsewhere. It now has more than two dozen organizations in the Grameen family.

3 Comments:

  • Smt Indira Ghandhi had done it in 1970to 1975 it self thro IRDP and small loans to weaker sections and coverd corer of people who were neglected by banks.She is pioneer in this respect

    By Blogger தி. ரா. ச.(T.R.C.), at 5:50 PM  

  • Great to know the news. I first about heard about this micro credit concept through your blog only. And now I am hearing that Mr. Yunus has been awarded with a Nobel. Salute to the bravo!

    By Blogger Siva Ramanathan, at 3:04 AM  

  • trc - oh.ok.I do know about NABARD and such but not sure if those initiatives could be compared to Grameen.

    Siva - Thanks. Good to note that u still read my blog !

    By Blogger Cogito, at 4:00 PM  

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