The award was jointly given in 2000 to Nelson Mandela and Grameen Bank of Bangladesh.
Grameen Bank (GB) has reversed conventional banking practice by removing the need for collateral and created a banking system based on mutual trust, accountability, participation and creativity. GB provides credit to the poorest of the poor in rural Bangladesh, without any collateral. At GB, credit is a cost effective weapon to fight poverty and it serves as a catalyst in the overall development of socio-economic conditions of the poor who have been kept outside the banking orbit on the ground that they are poor and hence not bankable.
Grameen Bank’s positive impact on its poor and formerly poor borrowers has been documented in many independent studies carried out by external agencies including the World Bank, the International Food Research Policy Institute (IFPRI) and the Bangladesh Institute of Development Studies (BIDS).
Muhammad Yunus, the bank’s founder, earned a doctorate in economics from Vanderbilt University in the United States. He was inspired during the terrible Bangladesh famine of 1974 to make a small loan of US$27.00 to a group of 42 families so that they could create small items for sale without the burdens of predatory lending. Yunus believed that making such loans available to a wide population would have a positive impact on the rampant rural poverty in Bangladesh.
The Grameen Bank believes that the best way for participants to learn about how the bank works, is through first hand exposure and observations at the field level. Through these experiences, participants are encouraged to draw their own conclusions about the effectiveness of Grameen Bank’s work and the impact it has on the poorest of the poor.
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For 2016 jointly to AkshayaPatra Foundation for its contribution in providing mid-day meals to millions of children across India and Sulabh International for its contribution in improving the condition of sanitation in India and emancipation of manual scavengers.
Sulabh International is an India-based social service organization that works to promote human rights, environmental sanitation, non-conventional sources of energy, waste management and social reforms through education. The organization counts 50,000 volunteers. Sulabh International is the largest nonprofit organization in India.
Sulabh was founded by Bindeshwar Pathak from Bihar State in 1970 .And have 50,000 volunteers Innovations include a scavenging-free two-pit pourflush toilet (Sulabh Shauchalaya); safe and hygienic on-site human waste disposal technology; a new concept of maintenance and construction of pay-&-use public toilets, popularly known as Sulabh Complexes with bath, laundry and urinal facilities being used by about ten million people every day and generates bio-gas and biofertilizer produced from excreta-based plants, low maintenance waste water treatment plants of medium capacity for institutions and industries. Other work includes setting up English-medium public school in New Delhi and also a network of centres all over the country to train boys and girls from poor families, specially scavengers, so that they can compete in open job market.
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