Nobel Peace Prize Winners announced
The 2006 Nobel Peace Prize has been awarded to Muhammad Yunus of Bangladesh and Grameen Bank ”for their efforts to create economic and social development from below.”
According to the Norwegian Nobel Committee ”Lasting peace can not be achieved unless large population groups find ways in which to break out of poverty. Micro-credit is one such means. Development from below also serves to advance democracy and human rights.”
The bank lends money to some of the poorest people in Bangladesh and helps them start their own businesses.
The winners receive almost one and a half million US dollars in prize money after being selected from a field of 191 candidates.