In 2017, small business owner Natalia Barinova needed a loan to purchase stock for her cosmetics store in Tver, a city northwest of Moscow. She borrowed 12,000 rubles (around $175) from two microfinance organizations with a daily interest rate of 2% or 775.6% annually.
Hromadske: Russia’s micro-loan mess
In this file photo taken on May 30, 2020 people walk on Red Square in downtown Moscow.
