Financial Education for Children and Young People in South East Europe

Policies, good practices and challenges in the new digital reality


On 18-19 November 2020, the OECD (Organisation for Economic Co-operation and Development) and Romania co-hosted the Annual Meeting on “Financial Education for Children and Young People in South East Europe (SEE)”, with the support of the Netherlands Ministry of Finance. Senior policy makers from Bulgaria, Croatia, Georgia, Moldova, Montenegro, Republic of North Macedonia and Romania attended this virtual high-level conference to examine challenges and formulate policy recommendations to boost financial literacy and resilience of youth in the region.

The virtual two-day meeting was organised on the theme of “Policies, good practices and challenges in the new digital reality”, focusing on the process of developing financial education policies and initiatives for children and young people. On the first day of the event, participants discussed about the status of financial literacy of young people in the SEE region, and the role of education in enhancing the quality of life. The next day was mostly dedicated to exploring new ways of reaching children and young people, leveraging digital technologies and other innovative means. There were also discussions on the impact of COVID-19 pandemic on the delivery of financial education to youth, and the participants provided, on this occasion, relevant examples of adapting financial education policy design to the new digital reality.

Day 1 - 18 November 2020

  • Andre Laboul, Chair of OECD/INFE, Senior Counsellor for Financial Affairs, OECD
  • Leonardo Badea, Deputy Governor, National Bank of Romania
  • Sebastian Burduja, State Secretary, Ministry of Public Finance, Romania
  • Jean Badea, State Sub-secretary, Ministry of Education, Romania
  • Daniel Armeanu, Vice-president, Financial Supervisory Authority, Romania
  • Sergiu Oprescu, President, Board of Directors, Romanian Association of Banks
  • Michel Heijdra, Deputy Treasurer General and Director for International Affairs, Ministry of Finance Netherlands

Theme I. Designing financial education programmes for young people.

Session 1. Setting the scene. Financial literacy of young people in SEE: where do we stand?

Moderator: Elena Miteva, Principal Economist, Insurance, Private Pensions and Financial Markets Division, OECD

Speakers:

  • Lasha Gzirishvili, Head of Department, Consumer Protection and Financial Education Department, National Bank of Georgia
  • Daniel Apostol-Bîrzu, Director communication and inter-institutional relations, Financial Supervisory Authority, Romania

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Session 2. Developing financial education for youth based on evidence

Moderator: Chiara Monticone, INFE Coordinator, Insurance, Private Pensions and Financial Markets Division, OECD

Speakers:

  • Ryoko Okazaki, Director, Promotion of Financial Education Group, Public Relations Department, Bank of Japan
  • Dora Li, General Manager, Investor and Financial Education Council, Hong Kong, China
  • Carlo Di Chiacchio, Researcher, INVALSI, Italia

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Session 3. Integration of financial education into the school curriculum

Moderator: Nicușor Ruiu, Deputy Director of the Financial Education and Museum Department, National Bank of Romania

Speakers:

  • Araks Manucharyan, Expert in Financial Education, Central Bank of Armenia
  • Susana Cristina Narciso, , Head of Division, Market Monitoring and Financial Education Division, Portugal
  • Evgeniya Kostadinova, Director Preschool and School Education Contents Directorate, Ministry of Education and Science, Bulgaria
  • Eugen Stoica, Head of curriculum monitoring and school inspection service, Ministry of Education, Romania

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Day 2 - 19 November 2020

Theme II. Leveraging technologies to deliver financial education to children and young people

Session 4. Digital delivery of financial education in and out of schools

Moderator: Olaf Simonse, Head of Money Wise, Ministry of Finance Netherlands

Speakers:

  • Prof. Kristof de Witte, KU Leuven, Faculty of Economics and Business, Campus Leuven
  • Martin Taborsky, Head of Financial Literacy Unit, Central Bank of Austria
  • Izabella Tebeli, Head of Department, Deputy State Secretariat for Financial Policy Affairs, Ministry of Public Finance, Hungary
  • Patrick Hommel, Director financial education, Commission de Surveillance du Secteur Financier, Luxembourg

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Session 5. Teacher training development and delivery: leveraging technology and peer learning

Moderator: Anton Comănescu,Senior Expert, National Bank of Romania

Speakers:

  • Carlos Medina, Director, National Institute of Educational Technology and Teacher Training, Ministry of Education, Spain
  • Tinatin Gujabidze, Specialist, National Bank of Georgia, Georgia
  • Olena Trygub, Project Manager, Financial Literacy Development, National Bank of Ukraine
  • Melissa Machado de Moraes, Division head, financial education, Central Bank of Brazil

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Session 6. Financial education integration into university, vocational and youth career support programmes

Moderator: Valentin Lazea, Chief economist, National Bank of Romania

Speakers:

  • Louisa Quittman, Director, Financial Security/Education, US Treasury
  • Nangse Dema, Head of financial education and financial inclusion, Royal Monetary Authority, Bhutan
  • Yousra Hamed, Technical Expert, Social Finance Programme, Enterprises Department,, ILO
  • Mihai Curiman, Head of Financial Education Division, National Bank of Romania
  • Bogdan Buzuriu, chief officer of Financial Education Timiș office, National Bank of Romania

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