(Xinhua )- - Nobel Peace Prize winner Prof. Muhammad Yunus Friday termed the award "a great honor" for Bangladesh, where he pioneered microcredit programs to help reduce poverty.
"I feel extremely good to hear the news. It's a great honor not only for me but for the whole Bangladesh," he told local journalists at his home in Bangladesh's capital Dhaka immediately after hearing the news at around 3 p.m. (0900 GMT).

"I have brought the honor for the country. Now, my first job is to eliminate its poverty," said the emotion-choked Yunus, adding that he has been working for reducing poverty through micro-finance programs.

Yunus came to know the news over a telephone call from the Nobel authority in Norway. "I am delighted, really delighted. They have endorsed a dream to achieve a poverty-free world," he said.

The 65-year-old Yunus, who is the first Noble Prize winner from Bangladesh, appeared before the local press accompanied by his wife Afrozi Yunus and daughter Deena Afroz Yunus at the lawn of his home.

He was seen embracing his near and dear ones and the well wishers, and waved hands to the crowds, who rushed to his home. The prize winner was smiling but could not avoid a few drops of tears.

Hundreds of people thronged the home of the Nobel laureate to congratulate him with floral wreaths and caused traffic congestion.

Replying to a question, Yunus said poverty would be eliminated through strengthening the economic growth, which will ultimately establish peace in the country.

To the question of the ongoing political unrest, he said, "Peace will be established in the country if we put our efforts together."

Prof. Yunus and his Grameen Bank won the award for advancing economic and social opportunities for the poor, especially women, through their microcredit programs.

He said he would use the prize money to look for more innovative ways to get poor people into business.

He is expected to pick up the award and prize money during a ceremony in Oslo in December this year. The winners will receive a prize of 10 million Swedish kronor (about 1.07 million US dollars).