The idea of the IOM, conceived as a center of research, training and practice of micro-finance, is inspired by the experience of Grameen Bank in Bangladesh.

Pro Yunus addressed a vast audience, including the president of the province of Emilio Romagna, the rector of the University of Bologna and the mayor of Bologna, in the grand Aula Magna of St Lucia.

The Bangladeshi community in Bologna later accorded a reception to the founder of Grameen Bank, whose micro-credit innovation earned him the Nobel for Peace.

In the afternoon, Prof Yunus was a guest at Santa Orsolo Hospital in Bologna. The hospital is interested in collaborating with Grameen Bank on health initiatives for children.

The Nobel laureate will address a special committee on globalisation in the Italian Chamber of Deputies, according to a message received in Dhaka yesterday.