Surendra Pandey, the Finance Minister of Nepal, has stated that the government is considering adding the contribution of “microfinance activities” to the calculation of the country’s gross domestic product (GDP).This comment was made at the Microfinance Summit Nepal 2010, an event covered by MicroCapital. Additionally, Mr. Pandey said that the government is willing create specific regulation to aid the microfinance sector in mobilizing resources. He also expressed concern about rising interest rates on microloans, and stated that government will “bear the cost” to counter this trend.

By Christopher Maggio, Research Assistant.

Bibliography:
My Republica article entitled ‘FM hails contribution of micro-finance sector’: http://www.myrepublica.com/portal/index.php?action=news_details&news_id=…

Government of Nepal: http://www.nepalgov.gov.np/

MICROFINANCE EVENT: The Nepal Microfinance Summit, presented by the Center for Microfinance (Nepal), February 14-16, 2010 in Kathmandu, Nepal: http://www.microcapital.org/microfinance-event-the-nepal-microfinance-su…