Small Loans Idea Helps Fight Global Poverty

Summary


[Muhammad Yunus] -- whose idea is at the centre of an international summit this week in Halifax -- says there's nothing like winning this year's Nobel Peace Prize to silence the naysayers.

"There was a lot of criticism... saying this is creating debt burden for the poor people, particularly for poor women, this is not going to change their lives," Yunus told a news conference at the Global Microcredit Summit.

"The women rejected themselves. They said, 'Don't give it to me, give it to my husband,'" said Yunus.

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Extract


Small Loans Idea Helps Fight Global Poverty

HALIFAX -- Muhammad Yunus admits his simple idea of granting small loans to poor entrepreneurs...

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