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WCC congratulates Muhammad Yunus, says genuine economic and social development must "grow from below"

16 October 2006

The Nobel Peace Prize awarded to Grameen Bank's creator Muhammad Yunus not only recognizes his "creative genius in promoting his concept of microcredit, but also testifies to the fact that genuine economic and social development has to grow from below if it is to be accessible for the people," the World Council of Churches (WCC) said today in a congratulatory message.

Mr Yunus' "efforts and hard work" are "bringing hope to the poor and economically and socially marginalised" and therefore are "in keeping with the aims and purposes of the ecumenical movement," the message affirms. Within the ecumenical movement, the concept of microcredit has given birth to initiatives like Oikocredit and the Ecumenical Church Loan Fund (ECLOF).

In sending its "hearty congratulations" to Mr Yunus, the WCC thanks him for his "painstaking endeavours to give hope to people's aspirations".

Full text of the WCC message

More information on Oikocredit

More information on the Ecumenical Church Loan Fund (ECLOF)