FBK Economic and Law School to Engage in the National Strategy
Date of publication
28.11.2014This work will be carried out under the “Russian Federation: Financial Education and Financial Literacy Project” sponsored by the RF Ministry of Finance and the World Bank.
According to Sergey Pyatenko, FBK ELS General Director, individual financial literacy, on the one hand, has grown into a vitally important skill keeping up the growth of welfare of citizens, on the other hand, financial literacy of the population is a key factor in the formation of an efficient civilized market economy.
Currently, forty-five countries develop and implement different forms of national strategies to improve the financial literacy of the population. “This strategy is expected to appear in Russia soon,too,” says Sergey Pyatenko. “Earlier FBK ELS was engaged in improving financial literacy in the country, including the implementation of the Project by the RF Ministry of Finance and the World Bank. In the field of Personal finances numerous workshops were held and a lot of training materials were developed”.
According to FBK ELS General Director, the national strategy should be developed within 15 months. Within the framework of the project, in particular, the generalization of international experience will be done: an analytical report will be prepared on the implementation of financial literacy and financial education strategies in different countries of the world. In the course of the work the draft national strategy of financial literacy of the population in Russia will be developed and submitted for consideration to all those concerned as well as the expert community.
The consultants will also arrange professional examination and discussion of the draft strategy. Based on the results of the discussion the national strategy will be built for improving the individual financial literacy of the population in Russia, including the goals, objectives, scope and priorities of the strategy, defining the roles of key organizations, as well as the strategy control and adjustment mechanism. The national strategy will also include the “road map” (plan of activities) on the strategy implementation in the medium-term (5-7 years).
“That is a great and complex job, which is at the same time very important for the country; it is planned for the future and enables people to live better lives. We are proud to have been selected to solve this task,” added Sergey Shapiguzov, FBK President, who personally headed the work under this project.
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