%1

Peace Prize winner among pioneers in microfinance loans: Church-backed groups help poor build future

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.