Question
Download Solution PDFProf M Yunus won the Nobel peace prize in which year?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFKey Points
- Prof M Yunus won the Nobel Peace Prize in 2006.
- He is the founder of the Grameen Bank, which pioneered the concepts of microcredit and microfinance.
- His work has helped millions of people, especially women, escape poverty by providing small loans without requiring collateral.
- The Nobel Committee awarded him the prize for his efforts to create economic and social development from below.
Additional Information
- Grameen Bank was established in 1983 and has since then provided financial services to the rural poor in Bangladesh.
- The concept of microcredit has been replicated in various countries across the world, showing a significant impact on global poverty alleviation.
- Prof Yunus has received numerous other awards and honors for his contributions to society.
- In addition to the Nobel Peace Prize, he has been awarded the Presidential Medal of Freedom and the Congressional Gold Medal in the United States.
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