Nothing happens without men, but nothing lasts without institutions," said the French statesman, Jean Monnet. Muhammad Yunus has managed to do both- make something enormous happen and then systematize it so that it can spread and be instituted around the world. Yunus has unlocked the mighty power of capitalism to lift up the world's poorest and most disempowered. He has given them not another handout but a permanent path to dignity and independence. And he has done so with honesty, courage, humility, and kindness. In a world in which so many nosily invoke religion, morality, and fundamentalism on behalf of their angry, intolerant programs, it is Muhammad Yunus, in his quiet way, who is truly doing God's work.

Fareed Zakaria, Editor, Newsweek International [To The Executive Times]

I can think of no one who is more worthy of the 2006 Nobel Peace Prize than Muhammad Yunus. Poverty and exclusion are among the principal-if not the principal-causes of violence in the world. Muhammad Yunus not only conceived of an effective means to reach the excluded and the poorest of the poor, but he also designed and implemented a system that has given millions of people the financial means to improve their lives-setting an example for helping the poor throughout the world. Muhammad Yunus single-handedly demolished one of the most long-standing prejudices against the poor: that they are not financially trustworthy. He brilliantly represents all of us who believe that mankind is entrepreneurial by nature, and that while market economies are a deep fact of life, they can be much improved upon so that no one is left behind.

Hernando de Soto, President of the Institute for Liberty and Democracy, Peru [To The Executive Times]

Economics may be the dismal science but once in a while a visionary like Prof. Muhammad Yunus makes even the hardest-headed member of the tribe a little misty-eyed. The story of Prof. Yunus and the Grameen Bank is a romantic and inspiring one: it starts with a simple but novel idea put to practice on a very modest scale by an academic who wanted to step out of the ivory tower and make a difference and over the next few decades a success story unfolded that made Prof. Yunus and the Grameen Bank a household name worldwide. I applaud the Nobel Peace Prize committee for their choice of Prof. Yunus and the Grameen Bank. Poverty is violation of human rights and its quiet violence afflicts billions of people on a daily basis and so what could be a better choice of a Nobel Peace Prize than to award it to the person and the institution which has offered a radical new path to the problem of poverty alleviation? I am happy beyond words at this unique honour awarded to Prof. Yunus whose work is an inspiration to us all."

Maitreesh Ghatak, Professor of Economics, London School of Economics [To The Executive Times]

The work of Professor Yunus and Grameen Bank is important in many ways. The ideas are simple and powerful-a social innovation comparable in its importance to many technological breakthroughs through the ages. Microfinance, especially group lending programs, recognizes that the poor can be rich when it comes to social capital. Such schemes demonstrate the power of harnessing strong social ties among the poor to the deal with the problems of default in lending programs. Microfinance is also a beacon of hope providing opportunities to the most disadvantaged. The potential of such schemes is still being appreciated and has been exported globally. Moreover, the practical agenda initiated by Professor Yunus and Grammen Bank is a key component of an approach to development that emphasises the need for institutional innovation to promote growth and change. It fully deserves the recognition of the Nobel committee.

Timothy Besley, Professor of Economics and Political Science, London School of Economics and External Member, Bank of England Monetary Policy Committee [To The Executive Times]

Your [Dr. Yunus'] efforts to pioneer microfinance and to spread it across the world as a poverty reduction measure, especially for women, are a matter of pride for all of us. Bringing empowerment and hope to millions of the poor is indeed the worthiest cause.

ADB is honored that we in the past had the chance to work together with you and the Grameen Bank, and we look forward to continuing our collaboration and support in the future. We will continue to be inspired by your achievements.

Haruhiko Kuroda, President, Asian Development Bank [Source: ADB Press Release: October 13, 2006]

I salute the selection of Dr. Yunus and Grameen Bank, the father and founding institution of micro-credit, for the Nobel Peace Prize. This achievement confirms the key role of microfinance in alleviating poverty and empowering citizens and demonstrates that the international community recognizes the close link between development and peace.
The U.S. has long supported the extraordinary work of Dr. Yunus and has integrated micro-enterprise initiatives into U.S. assistance programming for over a decade. The U.S. Agency for International Development does this in a number of ways: by supporting NGOs, credit union networks, and financial institutions.

Access to micro-credit is particularly vital to women entrepreneurs, who often have limited access to conventional financing, but who can be motors of economic and social development. As micro-enterprises expand and integrate into the formal economies of their countries, they empower the poor, create more jobs and higher income, contribute to economic growth, and strengthen democratic societies.

C. Borden Gray, U.S. Ambassador to the E.U. [ In response to a question asked by The Executive Times in the online interactive forum, "Ask the Ambassador"]