Luzhkov Says Nobel Laureate Inspiration for Loan Program

Nov 18 2009

Mayor Yury Luzhkov told Nobel Prize-winning banker Muhammad Yunus on Tuesday that his ideas about microcredit had spurred City Hall to open a program offering quick, small loans to small businesses. Yunus — a Bangladeshi banker who together with his bank won the 2006 Nobel Peace Prize “for their efforts to create economic and social development from below” — has pushed for the idea of issuing small loans at low interest rates and without collateral to small, predominantly family-run businesses. Luzhkov said municipal authorities would issue 66,000 loans this year, the largest amounting to 300,000 rubles ($10,500), Interfax reported. (MT) Source: http://www.themoscowtimes.com/news/article/luzhkov-says-nobel-laureate-inspiration-for-loan-program/389767.html Add New | Search | Close All | Open All Comments (0) Write comment Name: Email: Title: Message:         -color-aquablackbluefuchsiagraygreenlimemaroonnavyolivepurpleredsilvertealwhiteyellow -size-tinysmallmediumlargehuge   !joomlacomment 4.0 Copyright (C) 2009 Compojoom.com . All rights reserved."