Nobel Laureate and Grameen Bank founder Dr Muhammad Yunus received the Hillary Rodham Clinton Award in Washington, DC, yesterday (15 October), drawing a standing ovation from an audience of around 400 people.
Former US Secretary of State Hillary Rodham Clinton presented the award to Yunus at a ceremony held at Gaston Hall of Georgetown University, attended by ambassadors from around 25 countries, entrepreneurs, university teachers, and researchers.
The audience rose to their feet and applauded for an extended period when Yunus's name was announced as the award recipient.
Reema Nanavaty, director of India's Self-Employed Women's Association, and fashion designer Tory Burch, founder of the Tory Burch Foundation, were also awarded the Hillary Rodham Clinton Award.
Muna Sukhtian, board chair of Jordan's Microfund for Women, received the inaugural Georgetown Ambassadors Award.
The awards were presented by the Clinton and Georgetown Institute for Women, Peace, and Security to recognise leadership in advancing women's rights and promoting a more peaceful and secure world.
Speaking at the ceremony, Yunus reflected on his five decades of work in poverty alleviation through microcredit and outlined his vision of encouraging young people to become entrepreneurs rather than job seekers.
He said he hoped to launch Grameen University by the end of this year to help transform the education system and foster creativity and entrepreneurship among students.
"We are not job seekers; we are employers," Yunus said, describing the principle he wants young people to embrace.
He criticised the existing education system for primarily preparing students to seek jobs instead of helping them become creative entrepreneurs.
Yunus also highlighted the role of social business in addressing social problems, explaining that such enterprises could generate profits or surpluses but should reinvest them in solving social challenges rather than accumulating personal wealth.
Reflecting on his work with Grameen Bank, Yunus said microcredit had helped transform millions of families, particularly by enabling women to become self-reliant, financially secure, and empowered.
He said the children of Grameen Bank borrowers are now growing up and entering the workforce, making entrepreneurship an increasingly important focus.
Hillary Clinton said she had witnessed Grameen Bank's work firsthand and praised its contribution to helping women become self-reliant, secure, and empowered.
She also acknowledged Yunus's role in spreading the approach internationally.