Financial Literacy. International Experience

Financial Literacy. International Experience

Experts shared their best practices at the Second EWF 

The Second Eurasian Women’s Forum held an expert session titled ‘Financial Literacy: International Experience and Best Practices’. The discussion platform was organised with the support of the Ministry of Finance of the Russian Federation, The Central Bank of the Russian Federation, and the World Bank. 

The participants discussed already existing areas of cooperation in the sphere of enhancing financial accessibility and literacy and those to be prioritised within agendas of international associations and organisations. They also exchanged best relevant practices. Particular attention was paid to specific needs of women and girls within financial education.

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Experts from Russia and abroad participated in the meeting. Among them were Anna Popova, chairperson of The Federal Service for Supervision of Consumer Rights Protection and Human Well-Being; Flore-Anne Messy, Executive Secretary of the International Network on Financial Education (INFE) and Deputy Head of the organisation’s Financial Affairs Division; Anna Zelentsova, Strategy Coordinator of the Ministry of Finance ‘Financial Education and Financial Literacy Project for the Russian Federation’; and Guzelia Imaeva, Chief Executive Officer of NAFI Research Centre. Kseniya Yudaeva, First Deputy Chairperson of the Central Bank of the Russian Federation, were the moderator of discussion. 

The participants mentioned that in the majority of countries, women’s financial literacy is lower than that of men. That fact was proven by research conducted by the World Bank and The Organisation for Economic Cooperation and Development. Low level of financial literacy is limiting women’s opportunities of using modern financial tools and services as well as adversely impacting their personal financial security. 

Representatives of various organisations shared about programmes and projects actualised to solve such issues. Many of the speakers highlighted it is essential to both enhance women’s financial literacy and pay special attention to educating financial culture. The latter involves knowledge and responsible approach to finance alongside building skills of managing personal budget. 

The discussion was also attended by Konstantin Bobrov, chairperson of the board of the Bank URALSIB; Evgeniya Bliskavka, head of Financial Literacy for Women project; Evgeniya Lazareva, cofounder of OPORA Russia Committee for Women’s Entrepreneurship Development, etc. 

Anna Repina, news agency of the Eurasian Women’s Community

Translated by Nikolay Boykov