Oct 16, 2006

macro-reward to microcredit

I'm delighted to the fullest to learn that Nobel peace prize has been awarded to Muhammad Yunus, though pretty late, probably after everyone has already heard it.

What is microcredit?
A small loan, few hundred rupees to an impoverished poor man, who has no collateral to bank upon. This small loan goes a long way to lift a family out of poverty, to nurture entrepreneurship at the lowest level, and to bring the lost smile back on poor farmers and alike when nature hits them the hardest.

I'm conspicuous of the most ambitious project being undertaken by UN, millennium development project to make world poverty free in 25 years, but not microcredit. And secretive Nobel committee did prove it right with timely award. Kudos Yunus, great work.

2 Comments:

Blogger All Is Whole said...

Good post......

20/10/06 2:09 PM  
Blogger Alpine Path said...

True! Hey! He has come to Bangladesh on a project related to microcredit. I think u'd be interested in that too.

23/10/06 10:24 PM  

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