Who is Dr. Yunus?
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Dr. Yunus refers to Muhammad Yunus, a prominent Bangladeshi social entrepreneur, economist, and Nobel laureate. He was born on June 28, 1940, in Chittagong, which is now part of Bangladesh. Dr. Yunus is best known for pioneering the concept of microcredit and microfinance.
He founded the Grameen Bank in 1983, which provided small loans, often referred to as microloans or microcredit, to impoverished individuals, particularly women, to help them start small businesses and improve their economic circumstances. His efforts were aimed at empowering the poor and breaking the cycle of poverty.
In 2006, Muhammad Yunus and the Grameen Bank were jointly awarded the Nobel Peace Prize for their efforts to create economic and social development from below through microcredit. This recognition brought international attention to the concept of microfinance and its potential to alleviate poverty and foster economic development, especially in developing countries.