Alumnus Muhammad Yunus to receive Medal of Freedom

Posted 7/31/2009

Pres. Obama has named Vanderbilt alumnus and Nobel Prize recipient Muhammad Yunus among the 16 recipients of the 2009 Presidential Medal of Freedom. America’s highest civilian honor, the Medal of Freedom is awarded to individuals who make an especially meritorious contribution to the security or national interests of the United States, world peace, cultural or other significant public or private endeavors.

This year’s awardees were chosen for their work as agents of change. Among their many accomplishments in fields ranging from sports and art to science and medicine to politics and public policy, these men and women have changed the world for the better. They have blazed trails and broken down barriers. They have discovered new theories, launched new initiatives, and opened minds to new possibilities.

President Obama said, "These outstanding men and women represent an incredible diversity of backgrounds. Their tremendous accomplishments span fields from science to sports, from fine arts to foreign affairs. Yet they share one overarching trait: Each has been an agent of change. Each saw an imperfect world and set about improving it, often overcoming great obstacles along the way.

"Their relentless devotion to breaking down barriers and lifting up their fellow citizens sets a standard to which we all should strive. It is my great honor to award them the Medal of Freedom."

Yunus is a global leader in anti-poverty efforts, and has pioneered the use of "micro-loans" to provide credit to poor individuals without collateral. Yunus, who received his Ph.D. in economics at Vanderbilt in 1971, founded the Grameen Bank in 1983 in his native Bangladesh to provide small, low-interest loans to the poor to help better their livelihood and communities. Despite its low interest rates and lending to poor individuals, Grameen Bank is sustainable and 98 percent of its loans are repaid – higher than other banking systems. It has spread its successful model throughout the world. Yunus received the Nobel Peace Prize in 2006 for his work.

President Obama will present the awards at a ceremony on Wednesday, Aug. 12.

For the complete list of recipients, visit: http://www.whitehouse.gov/the_press_office/President-Obama-Names-Medal-of-Freedom-Recipients/.

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