Bangladesh's Nobel Peace Prize winner, economist Muhammad Yunus, has
opened an agricultural research center in Thailand that focuses on
microcredit -- the first such institution outside Bangladesh.
At the official launch Wednesday, Yunus expressed hope that the center
will help young researchers reduce poverty in rural areas.
The Yunus Center is located at the Asian Institute of Technology, or
AIT, north of the capital, Bangkok. It will search for ways to help
villagers improve their lives using microcredit in their
agriculture-related businesses.
The Yunus Center also will cooperate with AIT's satellite centers in Vietnam and Indonesia.
Dr. Muhammad Yunus won the 2006 Nobel Peace Prize for his innovative
work in poverty reduction. Thirty years ago, he founded the Grameen
Bank in Bangladesh, which provides "micro-loans" to the needy at little
or no interest. Nearly all the recipients are women.