Loan from a financial institution in the past year (% age 15+)

This indicator reflects the proportion of individuals aged 15 and above who have engaged in borrowing from various financial entities, such as banks, credit unions, microfinance institutions, or cooperatives, within the last year. It provides critical insight into the accessibility and utilization of formal credit services in a population, highlighting financial inclusion trends and economic behavior among adults. A higher percentage often signifies improved access to financial resources and increased consumer confidence in formal institutions, while a lower percentage may indicate barriers to financial services or a reliance on informal lending sources. Understanding this metric can aid policymakers in identifying gaps in financial access and developing targeted interventions to enhance economic opportunities within communities. Source: