Saturday, October 14, 2006
peace prize
ok, so i get a bit choked up over this year's peace prize winner, a fellow from bangledesh who started a bank to lend small amounts of money to the poor to start businesses....the idea took root after he discovered that a woman making grass and reed stools had to borrow money for the materials on each one she made, and ended up making very little on her finished product.....turns out that this woman, and 42 of her village comrades, owed only $27 between them.....a paltry sum considering ....and so he lent them the money to pay off the debt, as well as some 'seed' money for future work....and these women, and the countless numbers who came after them found that there were numerous ways to make small amounts ofmoney, even in this poor country......and they paid him, and his 'bank' back from their profits.....such a marveouls story about how one person can change the world.....and so he will win $1.4 million, which he has promised to turnaround and donate back to his development projects.......wow!
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ok, so this from the nobel citation......"Every single individual on earth has both the potential and the right to live a decent life. Across cultures and civilisations, Yunus and Grameen Bank have shown that even the poorest of the poor can work to bring about their own development."
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