Micronesia: Interest rates on bank credit to the private sector
For that indicator, The World Bank provides data for Micronesia from 1995 to 2017. The average value for Micronesia during that period was 15.22 percent with a minumum of 14.03 percent in 2007 and a maximum of 16.38 percent in 2005.
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The lending interest rate in Micronesia shown below is the interest rate on credits from banks to prime borrowers, i.e. to the lowest risk borrowers in the private sector. That includes firms and households.
Definition: Lending rate is the bank rate that usually meets the short- and medium-term financing needs of the private sector. This rate is normally differentiated according to creditworthiness of borrowers and objectives of financing. The terms and conditions attached to these rates differ by country, however, limiting their comparability.