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dr yunus nobel prize winner

Dr. Muhammad Yunus is a Bangladeshi economist, social entrepreneur, and winner of the Nobel Peace Prize. He is known for creating the Grameen Bank in 1983 and being a pioneer in the field of microcredit. By providing small, no-collateral loans to help people start businesses and escape poverty, his novel approach has empowered millions, particularly women. Education and childhood Yunus received his undergraduate and graduate degrees in economics from the University of Dhaka. He was born on June 28, 1940, in Chittagong, now known as Hathazari, in Bangladesh. After that, he went to Vanderbilt University in the United States to get his PhD in economics. Grameen Bank and microloan lending Yunus started lending small amounts to poor artisans in Bangladesh in the 1970s, which led to the formation of the Grameen Bank. The bank was officially established in 1983 and began providing rural poor people with microloans. Over 100 nations have taken similar actions as a result of the bank's success. Recognition on a global scale and the Nobel Peace Prize Yunus and the Grameen Bank shared the Nobel Peace Prize in 2006 for their efforts to foster social and economic development from below. He has also been honored numerous times, including the United States The Congressional Gold Medal and the Presidential Medal of Freedom Politics as a Leader Yunus was given the position of Chief Adviser of the interim government in Bangladesh in August 2024, following political unrest and the resignation of Prime Minister Sheikh Hasina. His appointment was seen as a step toward restoring stability and addressing the nation's challenges, despite his discomfort with politics.