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(10 Dec 2006) HEADLINE: Muhammad Yunus accepts Nobel prize --------------------------------------- CAPTION: 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. (Dec. 10) ---------------------------------------- [Notes:ANCHOR VOICE] [Notes:shot of man receiving award] Muhammad Yunus (YOO'-nuhs) received this year's Nobel Peace Prize at a ceremony in Norway on Sunday. Yunus is widely known as the "banker to the poor" because of his development of the concept of microcredit. The Bangladeshi economist set up the Grameen Bank with the purpose of giving very small loans to poor Bangladeshis who didn't qualify for loans from conventional banks. [Notes:SOT: Yunus about Grameen Bank] ----"Today, Grameen Bank gives loans to nearly seven (m) million poor people, 97 percent of them are women, in 73-thousand villages in Bangladesh." --------- No collateral is needed, and repayment is based on an honor system, with nearly a 100 percent repayment rate. Yunus spoke at the ceremony about his ideas on how to overcome poverty and defeat terrorism. [Notes:SOT: overcoming poverty] -----"I believe terrorism cannot be won by the military action. Terrorism must be condemned in the strongest language. -- I believe that putting resources into improving the lives of the poor people is a better strategy than spending it on guns."------ [Notes:shots of royal family] The ceremony was attended by members of the Norwegian Royal family including King Harald, Queen Sonja and Crown Prince Haakon (hoh-uh-kahn). Yunus says the idea of micro-loans has spread to almost every country around the world. [Notes:SOT: Yunus] ------"We are creating a completely new generation that will be well equipped to take their families way out of the reach of poverty." ------- Find out more about AP Archive: http://www.aparchive.com/HowWeWork Twitter: / ap_archive Facebook: / aparchives Instagram: / apnews #Economist #Muhammad #Yunus You can license this story through AP Archive: http://www.aparchive.com/metadata/you...