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'Banker to the poor' urges new financial structures to end poverty

The Bangladeshi economist who won the Nobel Peace Prize in 2006 for championing microcredit loans to the poor has called for an urgent re-invention of global financial systems to end poverty and protect the underprivileged, reports Ecumenical News International.

Muhammad Yunus said in Nairobi on 7 April that a new system could allow those excluded from mainstream banking, especially in Africa and the Middle East, to access credit that would enable them to live in dignity.

"We are not just happy to make ourselves rich and wealthy. We also want to make sure our fellow human beings can stand on their feet with pride and dignity, no matter where they live," Yunus said at the opening of the four-day Africa–Middle East Microcredit Summit in the Kenyan capital.

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TAGS: Kenya Bangladeshi economist Nobel Peace Prize poverty global financial systems Muhammad Yunus Africa–Middle East Microcredit Summit

[04/09/2010]

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