Who was awarded the Nobel Peace Prize for founding the Grameen Bank and pioneering the concepts of microcredit and microfinance?

The correct answer is Muhammad Yunus.Key Points

• Muhammad Yunus is a prominent member of civil society, banker, economist, and social entrepreneur from Bangladesh.
• In recognition of his creating the Grameen Bank and developing the ideas of microcredit and microfinance, he was granted the Nobel Peace Prize in 2006.
• Entrepreneurs who are too impoverished to be eligible for conventional bank loans are granted these loans. 
• Together, Yunus and Grameen Bank received the Nobel Peace Prize "for their efforts to create economic and social development from below through microcredit."

Additional Information

• Grameen Bank is a microfinance organization that provides small loans to impoverished individuals who lack collateral or credit history.
• Microcredit refers to the provision of small loans to low-income individuals or groups who are unable to access traditional banking services.
• Microfinance is a broader term that encompasses a range of financial services, including microcredit, savings, insurance, and remittances, that are provided to low-income individuals or groups.