Oslo:Tuesday marks the 20th anniversary of the announcement that Prof Muhammad Yunus and Grameen Bank were jointly awarded the 2006 Nobel Peace Prize for their efforts in poverty alleviation through economic and social development.
According to United News of Bangladesh, the Nobel Committee announced on 13 October 2006 that Prof Yunus and Grameen Bank had won the prestigious award. This recognition highlighted the significant impact of microcredit in empowering grassroots people, especially women, and providing economic opportunities to those traditionally excluded from formal financial systems.
The work of Prof Yunus and Grameen Bank showcased the potential of financial services and the entrepreneurial spirit of individuals in contributing to poverty eradication and social development. The Nobel Committee recognized that poverty is intricately linked to human dignity, security, and peace, and that economic empowerment can lead to a more stable and peaceful society.
The Nobel Peace Prize was presented on 10 December 2006 at Oslo City Hall, with members of the Norwegian Royal Family in attendance. Prof Yunus received his medal and diploma and delivered the Nobel Lecture. Taslima Begum, a borrower and director at Grameen Bank, accepted the award on behalf of the bank.
The Nobel Peace Prize Concert took place at Oslo Spektrum, featuring performances by artists such as Monica Yunus, Lionel Richie, Rihanna, Renée Fleming, Paulina Rubio, Hakim, Mick Hucknall, Yusuf Islam, and Wynonna Judd.