The Republic of Turkey is the world’s 17th most populous nation, with a total of 79.7 million people. Poverty and unemployment remain significant challenges for Turkey. The UNDP estimates that 36% of the population is economically vulnerable and that 9.0% lived below USD 2 a day, with the Eastern and South-eastern regions less prosperous than the West. The2011 unemployment rate is estimated at 9.8%, with a 25% surge in youth unemployment in the last two years following the international financial crisis.
Human Development Index gives the country a rank of 92th out of 182 countries in 2011.
Despite strong potential demand – the microfinance market potential has been estimated around 5 million and the penetration rate at 19% – the microfinance environment is both challenging and underdeveloped.
Grameen-Jameel is a partner with the following microfinance institutions: