Bangladeshi microcredit pioneer Muhammad Yunus and his Grameen Bank won the Nobel Peace Prize on Friday for advancing economic and social opportunities for the poor that has helped millions lift themselves from crushing poverty.
In awarding them the prize, the Nobel Committee said their efforts showed how working to eliminate poverty can result in a lasting peace.
"Lasting peace cannot be achieved unless large population groups find ways in which to break out of poverty," the committee said in its citation. "Microcredit is one such means. Development from below also serves to advance democracy and human rights."
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