Building on undergraduate and graduate degrees at Dhaka University, Dr. Yunus began his journey towards promoting opportunity for Bangladeshi communities as a 1965 Fulbright Foreign Student, undertaking a Ph.D. Yunus has supported entrepreneurship, alleviated poverty in Bangladeshi communities, and changed the way the world thinks about development economics.īefore microcredit, the Nobel Peace Prize, the United States Presidential Medal of Freedom, and countless other honors, Dr. ![]() ![]() By providing microloans to groups traditionally excluded from business financing, Dr. Yunus and Grameen Bank in Bangladesh in 1976 by loaning $27 to a group of women to start a bamboo stool business. This method, which provides small business loans to low-income individuals, was first pioneered by Dr. Yunus is a pioneer in the field of microcredit. His real impact, however, is not in the number of awards he has won, but the number of people he has empowered. ![]() ![]() Muhammad Yunus set out with a simple but radical idea: “The poor themselves can create a poverty-free world - all we have to do is to free them from the chains that we have put around them.” His lifelong dedication to empowering the world’s poor made him one of his generation’s most celebrated economists and the recipient of the 2006 Nobel Peace Prize (jointly awarded with Grameen Bank) “for their efforts to create economic and social development from below.”
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