Nobel Laureate: Poverty Fight Essential

STOCKHOLM, Sweden -- Economist Muhammad Yunus accepted the Nobel Peace Prize on Sunday for his breakthrough program to lift the poor through tiny loans, saying he hoped the award would inspire "bold initiatives" to eradicate a problem at the root of terrorism.

Yunus, a 66-year-old Bangladeshi, shared the award with his Grameen Bank, which for more than two decades has helped impoverished people start businesses by providing small, usually unsecured loans known as microcredit.

Nobel Peace Prize laureate Muhammad Yunus, right, along with Grameen Bank representative Mosammat Taslima Begum, receives a diploma from Save the Children Norway in Oslo, Norway Sunday, Dec. 10, 2006. Yunus, founder of Grameen Bank, will be awarded the Nobel Peace Prize in an elaborate ceremony in Oslo City Hall on Sunday. (AP Photo/John McConnico) (John Mcconnico - AP) PHOTOS The week's events from around the world, captured in pictures. » VIEW THIS WEEK'S PHOTOS Save & Share Article What's This? Digg Google