Rwanda’s government has reportedly launched a 7-year program to bolster its economic activity, including increasing electricity generation and providing financial services that reach at least 80 percent of the country’s population. Prime Minister Bernard Makuza reportedly noted that the financial services portion of the program will be managed by microfinance institutions who have relatively good access to rural regions, with the aim of private sector credit constituting 27 percent of the total gross domestic product (GDP) by year end 2017. Although it remains unclear how the government will finance this program, Mr Makuza claims he hopes the program will bump Rwanda up to a middle-income country by the time the program is complete [1].

By Diana Baide, Research Assistant

[1] Reuters. “Rwanda launches new plan for economic recovery” by Kezio-Musoke David

http://uk.reuters.com/article/idUKLDE69D0M120101014

MicroCapital. “MICROCAPITAL BRIEF: East African Community Discusses Elimination of Microfinance Institution (MFI) License Requirement” by Diana Baide, 4 October 2010

http://www.microcapital.org/microcapital-brief-east-african-community-eac-discusses-elimination-of-microfinance-institution-mfi-license-requirement/