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Nobel peace prize to pioneer of loans to poor no banks would touch - -

By Celia W. Dugger

Peace Prize to Pioneer of Loans to Poor No Bank Would Touch
Published: October 14, 2006

A Bangladeshi economist, Muhammad Yunus, and the bank he founded 30 years ago won the Nobel Peace Prize yesterday for pioneering work in giving tiny loans to millions of poor people no commercial bank would touch — destitute widows and abandoned wives, landless laborers and rickshaw drivers, sweepers and beggars.

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Pavel Rahman/Associated Press

Muhammad Yunus, a Bangladeshi, pioneered microcredit.

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Text: Excerpts From Citation

Past Prize Winners (nobelpeaceprize.org)

The Nobel Prizes

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