The Nobel laureate's views came during his live television discussion with German Chancellor Angela Merkel about the outcomes of the G8 Summit, and the role of industrialised nations in combating poverty in the world.

According to a message from Yunus' secretariat, the pioneer of bank lending to the poor noted with disappointment that the MDGs involving the poorer countries were not on the agenda of the G8 forum.

"There's also no firm decision on climate change which affects Bangladesh directly," he said and expressed frustration at the lack of progress on trade.

Bishop Mvume Dandala of South Africa represented Africa at the discussion.

The discussion took place in front of an audience of 5,000 people in Cologne a day after the G8 Summit ended in Heiligendamm.

Professor Yunus shared his experience about Grameen Bank and said Bangladesh is on track to reach the Millennium Development Goals (MDGs).

He said that G8 and all countries should have a clear roadmap for the elimination of nuclear weapons and all weapons of mass destruction as part of 'peace preparations' in the 21st century.

"This century is about finding new and creative ways to tackle problems of the world, and leaving behind the old thinking of the 20th century".

The founder of Grameen Bank called for creation of innovative institutional formations with involvement of governments, social businesses, private sector and the civil society.

Chancellor Merkel highlighted Germany's commitment to fighting poverty, and expressed interest about micro-credit and other innovations being spearheaded by Professor Yunus in Bangladesh.

Chancellor Merkel, Professor Yunus and Bishop Dandala's statements were followed by a question-answer session.

Before the on-stage discussion, Professor Yunus and Chancellor Merkel met separately to discuss G8 issues.

Former German President Richard von Weiszacker, who was present at the event, greeted Professor Yunus and recalled his visit to Bangladesh and Grameen Bank during his presidency.