Addressing a critical need

The increased role and complexity of financial markets and their products in countries at all development stages has reinforced the need to improve the capacity of consumers to effectively access and manage interactions with these services, especially in low and middle income countries where financial inclusion is poor and educational attainments are low. To enable consumers in these countries to understand, access, and make better financial decisions regarding bank accounts, credit, savings, quick payday loans, other loans, insurance, retirements, and an array of other more complex products, development of programs aimed at improving knowledge, skills, attitude and behavior in this area are required.

Despite the nearly universal nature of the need, however, there is not yet a consensus about how to best define the knowledge and skills required for financial capability, how to measure capability levels among different groups, and how to evaluate the effectiveness of programs designed to enhance from knowledge to behavior change. Against this background, the Trust Fund’s main focus will be the development of a conceptual framework and an operational toolkit on methods for (1) measuring levels of financial capability, and (2) evaluating the impact of financial education programs on raising the skills and financial capacity of target groups and inducing positive changes in behavior.

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October 31, 2012 Conference on Financial Education: "Progress of Global Policies and Practices and Latin American Experiences" – Policymakers globally are increasingly concerned about the impact of low levels of...

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June 26, 2012 APEC Conference on "Improving the Efficiency of National Strategies for Financial Literacy" – The Ministry of Finance of the Russian Federation, the World Bank and the OECD sponsored a...

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June 19, 2012 Trust Fund booklet – To learn more about the Financial Literacy and Education Trust Fund work managed by the World...

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