Friday, October 13, 2006

Nobel for anti-poverty pioneers

BBC News Bangladesh's Muhammad Yunus and the Grameen Bank have been awarded the 2006 Nobel Peace Prize.

What is wrong in the Nobel Peace Prize committee? This is one of the first times I have seen the Nobel Peace Price go to someone that really deserved it.
Mr Yunus, an economist, founded the bank, which is one of the pioneers of micro-credit lending schemes for the poor in Bangladesh. The bank is renowned for lending money to the least well-off, especially women, so that they can launch their own businesses.

2 comments:

Rosemary said...

...micro-credit lending schemes...

What? Why do they use words like this when they're discussing something good? Go figure...

Don Singleton said...

...micro-credit lending schemes...

What? Why do they use words like this when they're discussing something good? Go figure...


Not sure I understand. What would you call a business loan of $5. What is amazing is that a very small loan like that can truly get someone there n a business where he can earn money, and a very high percentages of the loans are paid back (more than in this country).