Sen. Dick Durbin (D-Ill.) has worked on micro-lending projects with the new Nobel prize winner, Dr. Muhammad Yunus.
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Durbin’s Statement on Dr. Muhammad Yunus
Winning the Nobel Peace Prize
[Chicago, IL] – U.S. Senator Dick Durbin (D-IL) today issued the following statement after Dr. Muhammad Yunus and the Grameen Bank he founded won the Nobel Peace Prize:
“The world today is honoring the inspiration of a quiet revolution that is touching the lives of hundreds of millions of the poorest people on earth.��?
“Dr. Muhammad Yunus has given dignity and hope to so many through his Grameen Bank – the people’s bank. He believed if you loaned the poorest people in the world a small sum of money that you could change their lives dramatically and they would repay the loan. Thirty years later, Dr. Yunus's theory of microenterprise is now a phenomenon which has touched 100 million people around the world. It is hard to think of any single idea in our lifetime which has lifted up so many people.��?
“Dr. Muhammad Yunus believes overcoming poverty is not just a gesture of charity; it is an act of justice. It is the protection of a fundamental human right, the right to dignity and a decent life. He is truly deserving of the Nobel Peace Prize and I am honored to call him a friend.��?
Durbin has worked with Dr. Yunus for more than ten years to advance microcredit initiatives and economic development in the world’s poorest nations. One of the greatest successes in recent years is microcredit programs targeted toward poor women. Most microcredit programs have repayment rates greater than 95 percent and have helped many women change their own lives and those of their families.