Nobel Peace Prize for a Formula against Poverty
Sunday, December 10th, 2006Today the Bangladeshi banker and economist Muhammad Yunus and the Grameen Bank founded by him are jointly awarded the Nobel Peace Prize, “for their efforts to create economic and social development from below.” With his idea of giving microcredits to entrepreneurs who are too poor to receive traditional bank loans, he has given a concept that has spread to nearly all areas of the world affected by poverty, over 23 countries by now. According to the German “Spiegel” magazine, over 100 million peole have aready got a microcredit. To ensure repayment, the bank uses a system of “solidarity groups”, which apply together for loans and act as co-guarantors of repayment and mutual support in the effort of economic self-advancement.
(c). www.muhammadyunus.org
Yunus is a fervent opponent to traditional development aid: “Poor people are not asking for charity; charity is not a solution for poverty.” And: “Only thing we need to do soon, redesign our institution and policies. People can change their own life provided they got the right kind of institutional support.” His goal is to free humanity from poverty by self-empowering the people: “Poverty in the world is an artificial creation; it does not belong to human civilization. We can change it.”
Intelligent help is a major quality of good will and of practical spirituality in the service of humanity. Muhammad Yunus is an outstanding example for this.

