Dhaka, Oct. 12 -- Tuesday marks the 20th anniversary of the announcement that Prof Muhammad Yunus and Grameen Bank had jointly won the 2006 Nobel Peace Prize for their efforts to create economic and social development from below through poverty alleviation.

On 13 October 2006, the Norwegian Nobel Committee announced the award, recognising their efforts to create economic and social development from below through poverty alleviation.

The recognition brought global attention to the role of microcredit in empowering people at the grassroots level, particularly women, and creating economic opportunities for those traditionally excluded from the formal financial system, according to a press release issued on Monday.

The work of Prof Yunus a...