FinMin is now part of the International Network for Financial Education

The inclusion of the Ministry of Finance, through the Special Secretariat for Private Debt Management, as a regular member in the International Network for Financial Education (INFE) of the Organization for Economic Cooperation and Development (OECD), announced a while ago

According to the ministry, this participation is considered particularly important, as the Greek government recognizes that the design and implementation of a National Strategy for Financial Literacy is one of the most effective ways to increase the financial knowledge of Greek citizens.

The elaboration of such a National Strategy in Greece is already taking place as a project, the coordination of which has been undertaken by the ECHR, under the supervision of the Ministry of Finance. This project is being implemented by the OECD, which has been commissioned to carry out work directly by the European Commission’s Directorate-General for Structural Reform (DG Reform), which is funding it under the Technical Assistance Program (TSI).

Already, on November 22, the inaugural teleconference was held by the Special Secretariat for Private Debt Management, with the participation of representatives of 80 bodies (Ministries, Universities, Institutions, Research Centers, Non-Profit Organizations, etc.). The purpose of this first meeting was to inform about the project and the relevant research that will be conducted between the involved / interested parties.

After the briefing, the participating institutions were asked to respond to a questionnaire, in order to collect data on existing financial education activities in our country.

The next steps

The next steps of project implementation include:

– The preparation of the mapping report.

– Measuring the level of financial literacy of young and adult citizens, and small / micro enterprises.

– Data analysis and benchmarking, based on international experience.

– The analysis of the results.

– Defining the vision, the strategic direction and the goals.

– The preparation of an Action Plan, in order to achieve the set objectives.

– The dissemination and promotion of the national strategy with information and awareness actions.

This new cooperation and exchange of know-how, in combination with the operation of the nationwide network of 52 Centers – Borrower Information and Support Offices of the Special Secretariat for Private Debt Management, help households, self-employed and business owners to make more efficient financial decisions using with heightened comprehension traditional, but also innovative, financial services.