Who was awarded the Nobel Peace Prize for founding the Grameen Bank and pioneering the concepts of microcredit and microfinance?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. Muhammad Yunus.
- Muhammad Yunus was awarded the Nobel Peace Prize in 2006 for founding the Grameen Bank and pioneering the revolutionary ideas of microcredit and microfinance.
- His work focused on providing small loans to the poor, especially women, without requiring collateral.
- This concept enabled millions to start small businesses and escape poverty.
- His initiative brought attention to the importance of financial inclusion in sustainable development.
- The Nobel Committee recognized his efforts as a powerful tool for economic and social empowerment.
- His model has been replicated globally, showing the impact of grassroots-level finance on society.