Use of Financial Services Borrowers: Persons Borrowing from Deposit Taking Microfinance Institutions (MFIs) for Russian Federation
RUSFCRODMFPENUM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,491,707.00
Year-over-Year Change
67.62%
Date Range
1/1/2013 - 1/1/2014
Summary
This trend measures the number of persons borrowing from deposit-taking microfinance institutions (MFIs) in the Russian Federation. It provides insights into the use of financial services and access to credit among microenterprises and low-income households.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The 'Use of Financial Services Borrowers: Persons Borrowing from Deposit Taking Microfinance Institutions (MFIs) for Russian Federation' metric tracks the total number of borrowers from MFIs in Russia. It offers a gauge of financial inclusion and the role of microfinance in expanding access to credit for underserved populations.
Methodology
The data is collected through surveys and reporting from registered microfinance institutions.
Historical Context
This trend is relevant for assessing financial market development and evaluating the effectiveness of policies to promote financial inclusion.
Key Facts
- Russia has over 2,000 registered microfinance institutions.
- Microfinance borrowers in Russia increased by 17% from 2019 to 2020.
- The average loan size from Russian MFIs is around $1,500.
FAQs
Q: What does this economic trend measure?
A: This trend measures the number of persons borrowing from deposit-taking microfinance institutions (MFIs) in the Russian Federation.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into financial inclusion and access to credit for underserved populations in Russia, which is important for evaluating the effectiveness of microfinance policies.
Q: How is this data collected or calculated?
A: The data is collected through surveys and reporting from registered microfinance institutions in Russia.
Q: How is this trend used in economic policy?
A: This trend is relevant for assessing financial market development and the success of initiatives to promote financial inclusion in Russia.
Q: Are there update delays or limitations?
A: The data may have a delay of several months due to the time required for institutions to report their lending activity.
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Citation
U.S. Federal Reserve, Use of Financial Services Borrowers: Persons Borrowing from Deposit Taking Microfinance Institutions (MFIs) for Russian Federation (RUSFCRODMFPENUM), retrieved from FRED.