Gray Ghost Congratulates Muhammad Yunus and The Grameen Bank on the 2006 Nobel Peace Prize AwardAtlanta, GA, October 13, 2006 —
Our wholehearted congratulations go out to our fellow pioneers in microfinance for the leadership role they have played in demonstrating the viability of microfinance as a tool for social and economic development. When microfinance began some 30-years ago, it was recognized as a way to break the cycle of poverty, but no one could have expected the revolutionary impact its programs would have on the financial sector as a whole. Today, microfinance has evolved from a “charitable” cause channeling donor money to support microfinance activities in disadvantaged economies, to a viable investment option attracting the interest of commercial banks, and appealing to socially-oriented investors. The award of the Nobel Peace Prize for work in the area of microfinance is in itself a catalyst for the industry. It epitomizes mainstream acceptance of an evolving industry which up until now had operated with little recognition. We must therefore also applaud the Norwegian Nobel Committee for recognizing the impact of microfinance and its vast potential to change the world. To Muhammad Yunus and The Grameen Bank, we thank you again for being visionaries, for painstakingly bringing microfinance to where it is today, and as fellow pioneers in the industry, The Gray Ghost Fund is even more encouraged to play its role in advancing microfinance investment and shaping the impact microfinance will have in the years to come. # # # ABOUT THE GRAY GHOST FUNDThe Gray Ghost Microfinance Fund, Inc, is a $75-million, for-profit portfolio of investments aimed at connecting private social investors with microfinance opportunities worldwide. As a fund of funds, Gray Ghost hopes to educate the investment community about the dual benefits of microfinance investing as both a means of growing individual wealth and alleviating poverty. The Gray Ghost Microfinance Fund is committed to enriching lives, both financially and spiritually, on both sides of the investment relationship. For more information on the Gray Ghost Microfinance Fund and its work, visit www.grayghostfund.com. MEDIA CONTACTYvonne Johanneson-Jones
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