Statement of Congressman Jim Moran
Washington, DC – Congressman Jim Moran, Northern Virginia Democrat, today congratulated Dr. Muhammad Yunus from Bangladesh upon receiving the Congressional Gold Medal. Moran was one of 16 cosponsors of legislation that resulted in today’s award.
“Thanks to the revolutionary work of Dr. Yunus, micro-enterprise is one of the most successful tools we have to reduce poverty,” said Rep. Moran. “Nowhere is the impact more apparent than in Bangladesh, where these programs have helped give Bangladeshis not only more income, but also the power to drive social change in gender equity in primary and secondary education, an accomplishment that will fuel further economic progress.”
Beginning with a loan of $27 from his own pocket to 42 craftspeople in a small village in Bangladesh, Dr. Yunus developed the concept of microcredit to create economic and social development in developing nations through small investments in individuals. He also established the Grameen Bank, which gives loans to the impoverished without requiring collateral. Dr. Yunus was awarded the Nobel Peace Prize in 2006 for his work.
“95 percent of microcredit borrowers are women. By supporting women, the poor, and those on the margins of our society, Dr. Yunus has made them agents of their own liberation,” Moran continued: “I hope that our small gesture will shine light on this important work to bring about a world where poverty, as Dr. Yunus has said, is something tomorrow’s children will have to go to a museum to experience.”
Dr. Yunus’ work in microfinance contributed to a revolution in anti-poverty programs across the world, mainstreaming a dynamic, new class of entrepreneurs and attracting hundreds of millions of dollars from private equity investors. Globally, microfinance programs implemented by NGOs, multilateral donors and governments have helped as many as a billion people out of poverty.
Since the American Revolution, Congress has commissioned gold medals as its highest expression of national appreciation for distinguished achievements and contributions. Each medal honors a particular individual, institution, or event. Past recipients include President George Washington, Thomas A. Edison, and Mother Teresa.
Source: Moran.house.gov
