NOBEL PEACE PRIZE WINNER MUHAMMED YUNUS

That this House congratulates Muhammed Yunus as the 2006 recipient of the Nobel Peace Prize for his outstanding success in tackling poverty through the provision of small loans; notes this is the latest in a long line of awards for Mr Yunus including the CARE humanitarian award, the World Food Prize and the UNESCO Simón Bolívar Prize; recognises that women from lower socio-economic backgrounds in the developing world have particularly benefited from the small unsecured loans; and hopes that the award inspires other financial bodies to look to microfinance as a core part of their business strategy in order to encourage enterprise and development in the poorest communities.