Presstv.ir recently reported that Muhammad Yunus wants to use his micro-credit system to help more countries:
Bangladeshi Nobel peace laureate Muhammad Yunus has said he is hoping to export his micro-credit system to more African countries.
“There is a lot of interest from African leaders to whom I have been talking. The question is how this can be translated into practice,” he told a press conference at the close of a World Bank meeting on Africa in Berlin.
Yunus said the entire developed world needed to strive to help Africa in order to live up to the United Nations’ Millennium Development Goals which include halving extreme poverty by 2015.
“This is very important. It is the first time the UN has set such goals. The time has come to stick to them.”
Yunus, nicknamed the “Banker to the Poor”, won the 2006 Nobel peace prize for helping millions escape poverty through micro-credit financing projects, which enable people without collateral or steady income to get small loans.
Muhammad Yunus’s micro-credit system has proven effective. He has literally enabled millions of people to escape poverty with his micro-credit loans. Where archaic charities and government welfare has failed, Yunas has succeeded. Through small loans (usually less than $50), Yunus lets poor people escape poverty, get on their own two feet, and start or repair their home businesses. After which, they repay the loans and can remain out of poverty on their own. Unlike expensive charity and welfare systems which increase dependency, Yunus’s cost-effective approach leads to self-sufficency among the otherwise poor.
I cannot applaud Muhammad Yunus enough. I also applaud those who involved with issuing Nobel prizes for rightfully recognizing the great man.