PUBLIC LAW 111–253—OCT. 5, 2010 124 STAT. 2635 

Public Law 111–253 

111th Congress 

An Act 

To award a congressional gold medal to Dr. Muhammad Yunus, in recognition 

of his contributions to the fight against global poverty. 

Be it enacted by the Senate and House of Representatives of 

the United States of America in Congress assembled, 

SECTION 1. FINDINGS. 

The Congress finds that— 

(1) Dr. Muhammad Yunus is recognized in the United 

States and throughout the world as a leading figure in the 

fight against poverty and the effort to promote economic and 

social change; 

(2) Muhammad Yunus is the recognized developer of the 

concept of microcredit, and Grameen Bank, which he founded, 

has created a model of lending that has been emulated across 

the globe; 

(3) Muhammad Yunus launched this global movement to 

create economic and social development from below, beginning 

in 1976, with a loan of $27 from his own pocket to 42 crafts 

persons in a small village in Bangladesh; 

(4) Muhammad Yunus has demonstrated the life-changing 

potential of extending very small loans (at competitive interest 

rates) to the very poor and the economic feasibility of microcredit and other microfinance and microenterprise practices 

and services; 

(5) Dr. Yunus’s work has had a particularly strong impact 

on improving the economic prospects of women, and on their 

families, as over 95 percent of microcredit borrowers are women; 

(6) Dr. Yunus has pioneered a movement with the potential 

to assist a significant number of the more than 1,400,000,000 

people, mostly women and children, who live on less than 

$1.25 a day, and the 2,600,000,000 people who live on less 

than $2 a day, and which has already reached 155,000,000, 

by one estimate; 

(7) there are now an estimated 24,000,000 microenterprises 

in the United States accounting for approximately 18 percent 

of private (nonfarm) employment and 87 percent of all business 

in the United States, and the Small Business Administration 

has made over $318,000,000 in microloans to entrepreneurs 

since 1992; 

(8) Dr. Yunus, along with the Grameen Bank, was awarded 

the Nobel Peace Prize in 2006 for his efforts to promote economic and social opportunity and out of recognition that lasting 

peace cannot be achieved unless large population groups find 

the means, such as microcredit, to break out of poverty; and 

31 USC 5111 

note. 

Oct. 5, 2010 

[S. 846] 


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124 STAT. 2636 PUBLIC LAW 111–253—OCT. 5, 2010 

LEGISLATIVE HISTORY—S. 846: 

CONGRESSIONAL RECORD: 

Vol. 155 (2009): Oct. 13, considered and passed Senate. 

Vol. 156 (2010): Sept. 23, considered and passed House. 

Æ 

(9) the microcredit ideas developed and put into practice 

by Muhammad Yunus, along with other bold initiatives, can 

make a historical breakthrough in the fight against poverty. 

SEC. 2. CONGRESSIONAL GOLD MEDAL. 

(a) PRESENTATION AUTHORIZED.—The Speaker of the House 

of Representatives and the President pro tempore of the Senate 

shall make appropriate arrangements for the presentation, on 

behalf of the Congress, of a gold medal of appropriate design to 

Dr. Muhammad Yunus, in recognition of his many enduring contributions to the fight against global poverty. 

(b) DESIGN AND STRIKING.—For purposes of the presentation 

referred to in subsection (a), the Secretary of the Treasury (hereafter 

in this Act referred to as the ‘‘Secretary’’) shall strike a gold medal 

with suitable emblems, devices, and inscriptions, to be determined 

by the Secretary. 

SEC. 3. DUPLICATE MEDALS. 

The Secretary may strike and sell duplicates in bronze of the 

gold medal struck pursuant to section 2, under such regulations 

as the Secretary may prescribe, at a price sufficient to cover the 

cost thereof, including labor, materials, dies, use of machinery, 

and overhead expenses, and the cost of the gold medal. 

SEC. 4. STATUS OF MEDALS. 

(a) NATIONAL MEDALS.—The medals struck pursuant to this 

Act are national medals for purposes of chapter 51 of title 31, 

United States Code. 

(b) NUMISMATIC ITEMS.—For purposes of sections 5134 and 

5136 of title 31, United States Code, all medals struck under 

this Act shall be considered to be numismatic items. 

SEC. 5. AUTHORITY TO USE FUND AMOUNTS; PROCEEDS OF SALE. 

(a) AUTHORITY TO USE FUND AMOUNTS.—There are authorized 

to be charged against the United States Mint Public Enterprise 

Fund, such amounts as may be necessary to pay for the costs 

of the medals struck pursuant to this Act. 

(b) PROCEEDS OF SALE.—Amounts received from the sale of 

duplicate bronze medals authorized under section 3 shall be deposited into the United States Mint Public Enterprise Fund. 

Approved October 5, 2010. 


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