Citi-FT Financial Education Summit

Building on the success of previous Summits in Hong Kong , Malaysia and South Korea , the Citi-FT Financial Education Summit 2007 in New Delhi, India was the largest international gathering of financial education experts and advocates ever held. Organized by Citi, the Pearson Foundation, and the Financial Times, and sponsored by the Citi Foundation and co-sponsored by IFC – the private-sector arm of the World Bank—this year’s Summit served almost 300 community-based representatives from across Southern Asia, all gathered to explore the Summit theme: Partnerships for Progress and Inclusion.

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We are in the midst of the longest-lasting and farthest-reaching period of economic growth the world has ever seen. How can we ensure that this growth improves the financial well-being not just of the affluent but also of people who historically have been excluded from the mainstream economy? Financial literacy is a life-skill that can help close the widening poverty gap, stimulate entrepreneurship and wealth creation at all levels of society, and protect consumers and investors in turbulent times.

This unique forum gave community leaders from around the world the opportunity to discuss how to boost financial literacy levels, particularly in under-privileged areas, by tailoring financial education programs to meet the needs of specific communities. Participants also took part in forums and work groups in which they indentified and shared best practices in content development and delivery, and explored effective multi-sector partnerships among governments, educational establishments, the private sector and non-profit organizations.

In the process, these leaders had the chance to:

  • Hear about current trends in financial education at national levels
  • Gain insights into effective financial literacy programs in rural areas
  • Examine the role of microfinance providers in grassroots financial education
  • Explore the financial education needs of successful SMEs
  • Learn about urban programs promoting consumer credit and investor education
  • Understand how financial literacy can be integrated into life-skills education

More information about the Summit can be found at www.financialeducationsummit.org.

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