EU Financial Education Program evaluates its initial results (23/02/2010)

ASTANA, 23 February 2010 - Today, the EU-funded Financial Education Programme starts its evaluation meetings in Karaganda and Shymkent to review the initial results and discuss further strategies. The programme delivers basic financial education to low-income population in Kazakhstan.

To the date, more than 50 representatives from Karaganda and Shymkent regions were trained and certified as 'Financial Education trainers'. Further, they have delivered free ‘Plan Your Future’ workshops for more than 1,000 low-income households, educating them to plan personal budgets, avoid credit traps and save wisely.

An improved knowledge on financial aspects will help people with low-income to save, borrow and utilise available financial services more effectively. It gives them necessary tools to protect their assets and build new ones, therefore reducing their vulnerability to poverty, which is the ultimate purpose of this initiative.

At evaluation meetings this week, the representatives of over 30 institutions involved in the programme will review an overall impact of the programme; discuss the recruitment of trainers and beneficiaries, see the prospects for building partnerships and transfer of know-how to local advisory points. The core part of the meetings will be devoted to communication and social campaigns within the programme.

The overall objective of the Financial Education Programme is to improve financial capability of low-income households in Kazakhstan through starting a process of institution building, innovation and creating relevant infrastructure at local, regional and national level. The Programme is funded by the European Union and implemented by the Poland-based Microfinance Center in cooperation with the Association of Microfinance Organizations and Credit Unions of Kazakhstan (AMFOK).

Microfinance Centre is a grass-root network of 110 member institutions that play an active role in shaping the microfinance industry in the Europe and Central Asia with the headquarters in Warsaw. AMFOK is an association of 78 non-banking microfinance institutions of Kazakhstan, aimed at development of microfinance sector in the country and improvement of public access to the financial services. 

Media representatives are invited to attend the evaluation meetings:

  • on 1-2 March in Shymkent, at the Conference Hall of "Dostyk" Hotel, Adyrbekov Street
  • on 4-5 March in Karaganda, at the Conference Hall of "Cosmonaut" Hotel, Krivoguz st.162a

You may also find more details of the programme at http://www.mfc.org.pl/finedu.html

For more information, please contact: