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| Peace Nobel for B’desh Grameen Bank and its founder | | | OSLO: The Nobel Peace Prize was awarded on Friday to Muhammad Yunus of Bangladesh and the Grameen Bank which offers loans to poor people without any financial security.
"Lasting peace cannot be achieved unless large population groups find ways in which to break out of poverty. Micro-credit is one such means," a statement from the Norwegian Nobel Committee, said.
The pair, who will share the prize, were cited for their efforts to create economic and social development from below in their home country by using innovative economic programs such as micro credit lending. |
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