A man who created a nonprofit organization credited with helping more than 150 million people out of poverty is this year's recipient of the World Food Prize.

Fazle Hasan Abed (FAHZ'-lee hah-SAHN' AH'-bed) is the founder of the Bangladesh Rural Advancement Committee, now known as BRAC.

The Des Moines, Iowa-based foundation that hands out the annual award announced Abed's win on Wednesday in Washington.

BRAC has spearheaded efforts to reduce infant mortality, educate children, empower women and fund microloan programs and other assistance to help lift the poor out of poverty.

The programs created for Bangladesh have expanded to 10 other nations.

The 79-year-old will receive the award and $250,000 in prize money at an October ceremony.