Oslo:Tuesday marks the 20th anniversary of the announcement that Prof Muhammad Yunus and Grameen Bank jointly received the 2006 Nobel Peace Prize for their contributions to economic and social development through poverty alleviation initiatives.
According to United News of Bangladesh, the Norwegian Nobel Committee announced the award on October 13, 2006, recognizing the significant role of microcredit in empowering grassroots communities, particularly women, and creating economic opportunities for those traditionally excluded from formal financial systems.
The efforts of Prof Yunus and Grameen Bank highlighted how access to financial services and support for entrepreneurial potential can aid in poverty alleviation and social progress. The Nobel Committee acknowledged that poverty is not just an economic issue but is deeply linked to human dignity, security, and peace, emphasizing that economic empowerment can lead to greater stability and peace.
The Nobel Peace Prize ceremony took place on December 10, 2006, at Oslo City Hall, attended by members of the Norwegian Royal Family. Prof Yunus received his medal and diploma and delivered the Nobel Lecture. Taslima Begum, a borrower and board member of Grameen Bank, accepted the award on behalf of the bank.
The Nobel Peace Prize Concert, held at Oslo Spektrum, featured performances by artists including Monica Yunus, Lionel Richie, Rihanna, Renée Fleming, Paulina Rubio, Hakim, Mick Hucknall, Yusuf Islam, and Wynonna Judd.