Peace Prize winner among pioneers in microfinance loans
Church-backed groups help poor build future
Nov 14, 2006
This year’s selection of the Nobel Peace Prize winner has thrown the spotlight on Christian-supported microfinance and banking institutions that make small loans to help poor people build a future.
The Norwegian Peace Prize committee announced that this year’s award will go jointly to Bangladesh economist Muhammad Yunus and his Grameen Bank as one of the pioneer groups helping to overcome poverty, especially in developing nations.
Opportunity International, a Christian ministry based in Oak Brook, Illinois, congratulated the winners for their role in helping to make microfinance “a proven, long-term solution to poverty.” The U.S. group was founded in 1971, five years before Grameen Bank was started by Yunus.