| Summary: | Financial services can help drive development by facilitating people’s
investments in their health, education, and businesses, and making it
easier for people to manage emergencies. There is great variation in
financial inclusion in the Europe and Central Asia region. Some countries
have seen significant growth in account ownership, despite starting from
a low base. These experiences underline the potential role of digital
payments in driving financial inclusion. But nearly 30 percent of
unbanked adults report trust in banks as a barrier, which is nearly double
the developing country average. And in some countries, gender gaps in
account ownership remain significant. Given the heterogeneity of
experiences, there are ample opportunities for countries in the region to
learn from each other and contribute to the rich research and operational
agenda going forward.
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