Microfinance to fight extremism: Nobel Prize Laureate

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The developer of microfinance, which lifts millions of people out of poverty around the world, says it could also help counter potential extremism.

Nobel Peace Prize Laureate Professor Muhammad Yunus is currently in Australia to talk about his innovative work using microfinance to alleviate poverty in the developing world.

Professor Yunus says governments need to urgently address the link between extremism and poverty. 

"Many of the extremism is born out of desperation,” he told SBS.

“You don't see any future you don't see any chance. You give them future, you give them a chance, they are not easily (per)suaded to terrorist activities and so forth and extremist activities.”

Muhammad Yunus is a Bangladeshi social entrepreneur and economist. He was awarded the Nobel Peace Prize in 2006 for his finance work, including founding the Grameen Bank and pioneering the concepts of microcredit and microfinance.

Source: NITV News

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