Financial Education in the Commonwealth of Independent States (CIS)

The project was launched in 2017, following on from the OECD's co-operation with the Russian Presidency of the G20 in 2013, and took place until 2022. Priority focus areas of Phase I and II of the project included:

• Regional dissemination and a hub/platform on financial literacy;

• Tracking progress on financial literacy, new analyses and regional database on financial literacy;

• Support and guidance on the implementation of financial literacy policies and practices;

• Research, policy analysis and guidance on financial literacy and related financial consumer protection aspects.

This project was led by the OECD International Network on Financial Education (INFE) and built on its internationally recognised expertise and longstanding commitment to advancing financial literacy around the world. It was carried out with the financial support of the Ministry of Finance of the Russian Federation and benefited from its technical expertise and participation in project activities. The project also benefited from the expertise of the G20/OECD Task Force of Financial Consumer Protection.

Partner countries

• Armenia

• Azerbaijan

• Belarus

• Kazakhstan

• Kyrgyz Republic

• Tajikistan

• Uzbekistan

Phase I (2017-2019)

Phase I of the project spanned six countries (Armenia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, and Tajikistan) and focused on four work streams:

• Collecting data and analysing financial literacy levels and gaps, producing the first CIS regional database on financial literacy based on individual data using the globally-vetted OECD/INFE Toolkit for measuring financial literacy and financial inclusion;

• Developing, implementing and reviewing effective national strategies for financial education, by supporting stakeholder engagement, communication strategies, and promoting tools for monitoring and evaluation;

• Addressing the financial literacy needs of young people both inside and outside the school system;

• Identifying and meeting the financial literacy needs of migrants and their families.

Download the Phase I Summary Report

Phase II (2020-2022)

Phase II of the project of the project spaned five partner countries (Armenia, Belarus, Kyrgyzstan, Tajikistan and Uzbekistan) extended by 2 countries for some specific deliverables (Azerbaijan and Kazakhstan). Building on achievements of Phase I, the project continued to develop:

• Data work by expanding the data gathering and deepening the dedicated dataset for regional work in the CIS, as well as tracking progress in financial literacy across target groups;

• National strategies by supporting individual project members in designing their national strategies, looking into effective implementation policies, as well as monitoring and evaluation practices;

• New themes of relevance related to credit, overindebtedness, digital financial services, and specific target groups;

• Peer learning - Knowledge sharing by advancing the regional dialogue and introducing peer learning exercises;

• Dissemination: (i) Upgrading the CIS web presence (ii) Organising the annual project conference; (iii) Organising networking events.

Project deliverables

This list provides access to materials produced within the framework of the CIS project.

Events

Click here for the list of events organised within the framework of the project.

• Policy Handbook on Financial Education for Young People in the CIS [RU]

• OECD-PISA Financial Literacy Country Note for Russia

• Levels of Financial Literacy in Eurasia [RU]

• Financial Literacy Needs of Migrants and their Families in the Commonwealth of Independent States (CIS) [RU]