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The Nobel Peace Prize for 2006 was awarded to Muhammad Yunus and the Grameen Bank in Bangladesh for their efforts to create economic and social development from grassroots. Professor Muhammad Yunus started the Grameen Micro Credit Project three decades ago with $32 taken from his own pocket. He managed to develop micro-credit into an ever more important instrument in the struggle against poverty, providing loans to poor people without any financial security. Transformed into a bank, the Grameen project has been a model and a source of ideas for many micro-credit groups in the world. Every individual has both the right and the potential to live a decent life. On the other hand, lasting peace cannot be achieved until large population groups find ways in which to break out of poverty. Development from the bottom also serves to advance democracy and human rights. Yunus and Grameen Bank have shown that even the poorest can work to bring about their own development. |
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