Bangladesh organization BRAC has been selected to receive the 2008 Conrad N Hilton Humanitarian Prize of $1.5 million. The Foundation presents the annual award to an organization that is significantly alleviating human suffering. Founded in 1972 by Fazle Hasan Abed, BRAC is the largest non-profit organization in the developing world and reaches more than 110 million people with its holistic approach to addressing poverty by providing micro-loans, education, health services, job creation and human rights education.