Philippines House Speaker to start a microlending bank

The Manila Bulletin says Philippines House Speaker Jose C. de Venecia Jr. is starting a microfinance bank patterned after Yunus’ multi-awarded Grameen Bank in Pangasinan.

De Venecia made the announcement as he urged President Arroyo and provincial business and political leaders to help build a national network of micro-finance banks as "weapons against poverty."

The Speaker said the First Dagupan Micro-finance Bank will be launched next month with him and more than 3,000 residents from Dagupan City and other areas in Pangasinan as stockholders.

This is probably the best Nobel prize given out, as more people are looking at debating issues on poverty, micro credit etc. They are not stopping with debates and discussions but are going ahead and doing something as well.