Accessibility links

Bangladesh Banker to Receive Nobel Peace Prize in Oslo


Nobel Peace Prize winner Muhammad Yunus says poverty is a threat to world peace and promises to use his prize money to help provide loans to the poor.

Yunus will receive his $1.3 million prize Sunday in Oslo.

The Nobel committee named the economist from Bangladesh the winner of this year's peace prize for work by his Grameen Bank. He founded the bank 30 years ago to provide small loans to the needy at little or no interest. Nearly all the recipients are women. The bank has helped cut poverty in Bangladesh.

Yunus met Saturday with officials of the Norwegian telecom company that is a joint partner in Bangladesh with Grameen.

Yunus claimed in an interview with Fortune magazine last week that the Norwegian company is backing out of its deal to turn over the entire company to Grameen.

Company officials deny such a deal, but say they believe the issue can be settled responsibly.

Some information for this report provided by AP and AFP.

XS
SM
MD
LG