Ru

Financial literacy of women

Financial literacy of women

Project coordinator

— Anna Zelentsova

adviser to the director of the project titled “Promoting the improvement of the level of financial literacy of the population and the development of financial education in the Russian Federation” of the non-commercial foundation for enterprise restructuring and financial institutions development.

Goals

  1. Promote financial literacy and financial competence among women against the backdrop of digital economy.
  2. Implement international and Russian projects and initiatives to improve financial literacy among women as a driver factor for household welfare.
  3. Improvement of women’s financial literacy and availability of financial services are factors which help to increase women’s presence in the economy and encourage a more sustainable growth in national economies.
  4. Women’s involvement in the economy helps to overcome poverty and improve welfare. At the level of household, women are often responsible for budgeting and making current financial decisions, ensuring children’s well-being and helping them form a right mindset. That is why women especially need to have financial competences.

Besides, according to research conducted by the Organisation for Economic Co-operation and Development (OECD) and the World Bank, women are more likely to have difficulties in long-term planning, investing and ensuring financial health at the retirement age. Small businesses run by women often struggle to have access to finance.

Promotion toolkit:

  • International events within the framework of APEC, G20, Financial literacy project for six CIS countries and others, as well as events held together with the Federation Council, recommendations for measures to improve financial literacy and availability of financial services to women.
  • Studies of the level of financial literacy among women.
  • Activities for target audience: forums, festivals, courses and training programmes for women, including:
    • Financial family festival
    • Women's Financial Independence Forum with Cosmopolitan
    • International project in cooperation with World Women Banking
    • Activities within the framework of the all-Russian week of financial literacy for children and young people and the all-Russian savings week
    • Project titled “Financial health for women”

Project partners, including future partners:

  • Ministry of Finance of the Russian Federation within the framework of the project titled “Promoting financial literacy and financial education in the Russian Federation”
  • Organisation for Economic Co-operation and Development (OECD) 
  • Bank of Russia
  • National agency for financial information
  • National centre for financial literacy 
  • Public business organisations:
    • OPORA RUSSIA
    • Business Russia
  • World Women Banking 
  • International Finance Corporation

Photo source

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