Financial Inclusion in Europe and Central Asia

Financial inclusion in Europe and Central Asia grew at an impressive pace between 2011 and 2021, when it increased from 44% account ownership among adults in the region (excluding high-income economies) to 78%, according to the Global Findex Database 2025. Since then, however, progress has stagnated, as account ownership has remained at 78%, putting the region in second place after East Asia and the Pacific, and tied with South Asia. Within the region, Ukraine has the highest level of account ownership at 88%, with Kazakhstan close behind at 87%. The lowest levels are found in Albania (46%) and Tajikistan (55%). 

Usage of digital payments in the region has grown by over 25 percentage points in the past decade, reaching 69% of adults in 2024, above the average for low and middle income countries. 

Gender gap in financial inclusion

While women’s financial inclusion in Europe and Central Asia has increased by over 17 percentage points in the last ten years, the gender gap has widened during this time as men’s account ownership has outpaced women’s. Men are now 8 percentage points more likely than women to own an account in the region, and 15 percentage points more likely to use digital payments. 

Türkiye has the highest gender gap of the region for account ownership at 20 percentage points, followed by Tajikistan at 16 points, indicating a need for targeted policies and interventions in these countries to improve women’s access to financial services. The lowest gender gaps are found in Kyrgyz Republic, Moldova and Uzbekistan which each have a gap of only 2 percentage points. Interestingly, Uzbekistan’s gender gap goes in the opposite direction as most, with women owning more accounts than men. Georgia is the other country in the region with a gender gap in favor of women, at 5 percentage points. 

To explore the link between access to financial services and women’s economic empowerment, refer to CGAP’s Impact Pathfinder, which synthesizes decades of research on this topic. To learn more about how the financial inclusion sector is working towards women’s economic empowerment, join FinEquity, a community of practice to empower women through financial inclusion, convened by CGAP.

Resilience

Despite having above average levels of account ownership compared to other low- and middle-income countries, financial resilience in the region is relatively low. Only 24% of adults reported that their household could cover expenses for more than two months if they lost their main income source, and 47% could only last a month or less. 

The region is fortunate to have the lowest exposure to natural disasters relative to other low- and middle-income countries; only 13% of adults reported having experienced one in the past three years, and a much smaller percentage lost income (3%) or property (3%) as a result. 

However, financial shocks come in many forms and the region’s low level of financial resilience is an indication for policymakers to improve social safety nets and access to insurance and savings. To explore the link between access to financial services and climate resilience, refer to CGAP’s Impact Pathfinder, which synthesizes decades of research on this topic.