Foreign Minister Li Zhaoxing met in Beijing Tuesday with Nobel
Peace Prize laureate Muhammad Yunus, president of the Grameen Bank
Li congratulated Yunus on winning the prize for his efforts in
helping improve rural economy and promote social development in
The two sides agreed that as developing countries with large
rural population, China and Bangladesh can strengthen cooperation
on rural economy to lift the living condition of people.
Yunus was here for the Grameen International Conference on
Microcredit, which was held on October 22 to 23 in Beijing.
Yunus and his bank, the Grameen Bank, won the Nobel Peace
Prizeon October 13 for creating the microcredit system that has
helped millions of poor people in his homeland.
He set up the Grameen Bank in 1976 to give credit to poor people
in his country, particularly women, in order to let them set up
micro businesses without collateral.
(Xinhua News Agency October 25, 2006)