CYFI collaborates on workshop on financial inclusion for young people in Ukraine

CYFI together with its project partner University of Banking and the National Bank of Ukraine held a seminar in Kyiv on July 8th on the role of public-private partnerships and the role of the private and civil society sectors in improving financial literacy and access to basic financial services for young people in Ukraine.

The workshop took place at the Training Center of the National Bank of Ukraine, and saw the participation of more than 30 representatives of the banking sector, financial regulatory and educational authorities, ministries and civil society sector representatives.

The workshop had the following objectives:

  • To present the concept of an integrated approach to financial education to local stakeholders in Ukraine;
  • To introduce the concept of Schoolbank and its various implementation options;
  • Discuss the existing financial education programs for children and youth in Ukraine;
  • Presentation of the best practices of foreign private sector involvement in financial education and access to programs for children and youth;
  • Discuss potential collaboration and further action plans for the development of financial inclusion and financial education programs for youth in Ukraine.

During the seminar, CYFI presented parts of its Product Development Workshop module, including business and CSR case for financial institutions, and discussed various technological and innovative solutions for Ukrainian FSPs to start investing in savings programs for youth. The guest speaker Eduard Schmitt from Savings Banks’ Foundation for International Cooperation (SBFIC) presented the approach of German Savings Banks to improving financial capability of youth, as well as various ways to educate youth to save.

The seminar ended with a panel that discussed the state of the field in Ukraine that featured presentations of the hosts of the event – the National Bank of Ukraine, as well as Ministry of Education and Science of Ukraine, University of Banking, and the Privat Bank. The workshop offered a platform for an open discussion on various possibilities for collaboration and cross-sector cooperation in this field for institutions from different industries.

The workshop was conducted as part of the project CYFI is implementing with its project partners from 9 countries within the ‘Visegrad 4 Eastern Partnership (V4EaP) Program - Flagship Projects’- "Transferring the experience of the Visegrad countries in the Eastern Partnership countries and the development of capacity and technical expertise in the field of financial education for children and youth", supported by International Visegrad Fund.

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Tuesday, 10 December 2019