The Success of a Financial Education Program
The Microfinance Centre for Central and Eastern Europe and the New Independent States, is a regional network of 110 local microfinance institutions. It has developed a Financial Education Program aimed to improve the financial abilities of the population. The levels of financial literacy in the region were alarmingly low, provoked by the government policies in communist times, when people didn’t really managed their monetary resources. After the fall of communism many of them practiced self-exclusion because they were not confident in the changes and proposals of the capitalist model. The Microfinance Centre (MFC) decided to teach them the systematic planning for the use of resources, regular saving and smart borrowing. Since 2004 it has prepared one thousand local trainers in sixteen countries. To-date it has reached more than 100,000 low income households. Nevertheless there is a lot to do: in the regions served by the MFC live approximately 250 million poor individuals.
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Aug 19, 2011
SOURCE | DATE
www.microcapital.org -
CATEGORY
Microlending -
TAGS
Centre for Central, Eastern Europe, micofinance,
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