Muhammad Yunus

His first loan consisted of $27 from his own pocket, which he lent to women in the village of Jobra, near Chittagong University, who made bamboo furniture. They sold these items back to moneylenders to repay usurious loans that they had take out to buy the bamboo. With a net profit of 5 Bangladeshi taka (.02 USD), the women were unable to support themselves or their families. However, traditional banks were not interested in making tiny loans to poor people, who were considered poor repayment risks.

As many of you must have noticed, Muhammad Yunus was appointed the Nobel Peace Price today. The announcement came from the Norwegian Nobel Commitee today at 11:00 AM CET. There were many favourites, including Bono (U2 vocalist), Martti Ahtisaari (former President of Finland) and Susilo Bambang Yudhoyono (Current President of Indonesia). WI wish Muhammad a pleasant trip to Oslo to recieve the peace price.

The Commitee has with this appointment broaden the Peace Price category and by doing this they underline that peace in our time could be reached by giving poor people economical safety.

As Pinky (Bob Geldof) announced in his campaign against poverty: "Make poverty history!"