Europe and Central Asia has the smallest population of the four regions that the IsDB operates in, with 9.1%, or 161 million people. Turkey is the most populous member country in this region, with a population of 79.6 million.
In 2016 Europe and Central Asia had a per capita income of US$18,478*.
Countries in this region face diverse challenges due to their different historical backgrounds and geopolitical settings. Their short-term challenges include enhancing their resilience to external shocks, strengthening their fiscal, financial and political stability, addressing food insecurity and reducing income inequality.
In the medium- to long-term countries in this region must enhance cross-border infrastructure in order to support trade with, and between, landlocked member countries. They will also need to foster inclusive growth and create jobs for their young people. Other challenges include moving their economies away from natural resources, and strengthening regional cooperation by lowering regional trade barriers and bolstering SMEs.
Out of the total IDB Group financing (US$130.8 billion) since inception to the end of Q3 2017, US$19.3 billion has gone to the Europe and Central Asia region. The majority of net approvals have mainly been in the transport sector. Turkey is one of the top five IDBG beneficiaries, receiving 8.3% of IDBG financing.
*Adjusted by purchasing power parity (PPP)