The Norwegian Nobel Committee today (13 october) anounced that Professor Mohammad Yunus and Grameen Bank have been awarded the 2006 Nobel Peace Prize. Professor Yunus and Grameen Bank receive the award for their contributions in the fight against poverty.
The winners were revealed by the Nobel Committee Chairman, Mr. Ole Danbolt Mjoes, at a ceremony in Oslo at 11 a.m. today, local time. The Committee has decided that the prize for 2006 will be shared equally between Professor Yunus and Grameen bank for their endeavours to create pro-poor economic growth. "Lasting peace is not possible without lifting large population groups out of poverty. Micro-credit is a way of doing this. Development at the grass roots level also promotes democracy and human rights" says the Nobel Committee Chairman.
The Norwegian Prime Minister Jens Stoltenberg congratulates Professor Yunus and Grameen Bank with the prize. "For 30 years they have given credit to the poor, especially women, without collaboration, creating opportunities for self-employment and a way out of poverty" says the Prime Minister.
"I am very pleased that the Nobel Committee has awarded the prize to Professor Yunus and Grameen Bank, a person and an institution that with concrete measures and a down to earth approach has helped millions of people fight their way out of poverty. Grameen Bank is one of the most important examples of development that works. It is a model for micro-credit enterprises that has been copied in countries all over the world" says Norwegian Foreign Minister Jonas Gahr Støre.
Norway was among the first countries to believe in and support the concept of micro-credit. Norway contributed 400 million Norwegian kroner (60 million USD) to Grameen Bank over a period of 10 years. The support was scaled down and phased out as the institution became financially independent and self-sustainable.
The Nobel Peace Prize is awarded, under the terms of Alfred Nobel's will, by a committee appointed by the Norwegian Parliament. Its five members represent the spectrum of Norway's political parties. It is independent of the Government of Norway. The price for 2006 is 10 million Swedish kroner or approximately 1.4 million USD.