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Manmohan greets Nobel winner

HELSINKI: Prime Minister Manmohan Singh on Friday congratulated Bangladeshi economist Muhammad Yunus for winning the Nobel Peace prize and said the ``well-deserved'' honour marked the world recognition to his contribution in resolving the poverty problem.

``He [Mr. Yunus] is an outstanding South Asian. I, as a South Asian, rejoice,'' Dr. Singh, himself a noted economist, said while responding to a question at a press conference here at the conclusion of India-European Union Summit.

Micro credit

Describing Mr. Yunus as his friend, Dr. Singh said the movement of micro credit that he had launched had important lessons in tackling poverty, particularly the problem of rural poverty.

``It is a well-deserved honour,'' he said, adding that it was no surprise that the world at large had recognised his contribution in resolving the problem of poverty.

Mr. Yunus and the Grameen Bank founded by him were awarded the Nobel Peace Prize for their work in helping millions, especially women, in the country to overcome poverty through a system of small-scale loans.

The 66-year-old is the first Bangladeshi to win a Nobel Prize. — PTI

Recognition for good

credit policy: Brinda

New Delhi Special Correspondent writes:

Women groups have welcomed the award of the Nobel Peace prize to Bangladesh economist Muhammad Yunus and the Grameen Bank started by him.

CPI (M) member of Parliament Brinda Karat said the award was a recognition of Mr. Yunus's good credit policy that changed the lives of poor women.

Concerned with poverty

Social activist Aruna Roy said Mr. Yunus was always concerned with the issue of poverty and he dedicated his life for the uplift of poor women.

Ranjana Kumari of the Centre for Policy Research said Mr. Yunus had helped women repose faith in themselves. "The Grameen bank worked for the poorest of the poor women and proved that women can change the economy of society with their own effort. The high repayment rate of the bank is also important in the growing economy."

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