Nobel Peace Prize to Mr. Yunus and Grameen Bank
Numerous articles and comments about the Nobel Peace Prize. General agreement on a well deserved prize and some questions about microfinance itself.
In an article in The New York Times last Saturday, Celia Dugger summarizes what microcredit is about, mentions some of the criticisms it has received in the past and includes comments from Mr. Yunnus and other economists.
But in interviews yesterday, Mr. Yunus’s skeptics and fans alike credited him and Grameen with helping to fundamentally change the way the world saw the potential of poor people and to popularize the movement to provide financial services to the poor.
“He proved the impossible: that the poor were bankable,” Professor Morduch said.
In BusinessWeek Jeffrey Gangemi writes about what the Nobel means for microcredit and discusses the link between peace, poverty and entrepreneurialism.
Still, when you think of the benefits of small loans, achieving peace and stability isn't the first idea that springs to mind. But it is exactly what Yunus, 66, is aiming for. While he may not be brokering treaties, he's actually promoting peace by uprooting one of the root causes of conflict: poverty. At the same time, he's demonstrating how effective entrepreneurialism can be.
And in Bangladesh the Prize is seen as a great honour for the country.
Winner of Nobel Peace Prize 2006 Professor Dr. Muhammad Yunus Friday termed the award 'a great honour' for the country, where he pioneered micro credit programmes to help reduce poverty.
'I feel extremely good to hear the news. It's a great honour not only for me but for entire Bangladesh,' he told local journalists at his modest Mirpur apartment immediately after hearing the news at around 3 pm.
'I've brought honour for the country. Now my first job is to eliminate its poverty,' said an emotion-choked Yunus, adding that he has been working for reducing poverty through micro-finance programmes.
Yunus came to know of the news over a telephone call from the Nobel authority in Norway, but had to hold the receiver for about 10 minutes. 'I'm delighted, really delighted they have endorsed a dream to achieve a poverty-free world,' he said.
The 65-year-old economist, who is the first Noble Prize winner from the country, appeared before the local press accompanied by his physicist wife Afrozi Yunus and daughter Deena Afroz Yunus at the lawn of his home.
He was seen embracing his near and dear ones and admirers who rushed to his home. The prizewinner was seen smiling, but could not hold a few drops of tears of joy. Hundreds of people thronged the home of the Nobel laureate to congratulate him with flowers, causing traffic congestion in the locality. Replying to a question, Prof. Yunus said poverty would be eliminated through strengthening the economic growth, which will ultimately establish peace in the country.
He said he would use the prize money looking for more innovative ways of getting poor people into business.
(Via United News of Bangladesh Limited / Factiva. Oct. 13 2006)
Audeamus includes many more related links.
On knowledge sharing
Koichiro Matsuura, Director-General of UNESCO, writes in the Jakarta Post about Knowledge sharing and its importance in the fight against poverty. "Is knowledge sharing a utopia, the international community's new buzz word? We do not think so".
(Via Factiva, Oct. 14 2006)
On Elections in Ecuador
The Economist describes Rafael Correa as "An enigmatic leftist".
In today's Miami Herald, a comment on the first results and the upcoming runoff between a businessman and an economist.
