Amount of loans issued by microfinance organizations down by 12 times in Ukraine
The amount of loans granted by MFO is more than 12 times less than the average amount of microloans made last year (Photo:Elizaveta Sergienko/Press Center of the NBU)
The amount of loans granted by microfinance organizations (MFO) is more than 12 times less than the average amount of microloans made last year, the Opendatabot reported on Sept. 26.
In the second quarter of 2022, Ukrainians borrowed UAH 1.3 billion from MFOs, while last year this amount was UAH 16.2 billion.
Since the beginning of the full-scale war, both the number of loans and their amounts have decreased, Opendatabot notes.
For the 2nd quarter of 2022, a little more than 355,000 contracts were signed. This is half the average number of contracts per month in the first quarter of 2022 and 3.3 times less than the average number of contracts per month last year.
The average loan amount in the second quarter decreased by 28%: from UAH 5,079 to UAH 3,650.
Since the beginning of the year, microloan debt has decreased by UAH 2.4 billion (by 18%): from UAH 13 billion at the beginning of the year to UAH 10.7 billion at the beginning of July.
In the three months before the end of 2021, Ukrainians took out more microloans than in the whole of 2020.
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