Winners of Financial Culture Capital Competition announced
The Krasnoyarsk Territory and the Nizhny Novgorod Region have been named the winners of the All-Russian Financial Culture Capital Competition. The competition was held by the Bank of Russia and the Russian Ministry of Finance for the first time this year.
‘When we were conceiving this project, we were sure that we would receive plenty of fascinating projects. We have proved to be right! All teams that have made it to the final have bright ideas and insights. We had a long debate about who should be the winner but failed to choose the only one. So, we have two Financial Culture Capitals this year,’ noted Bank of Russia Governor Elvira Nabiullina.
The same number of votes were cast by the competition committee in favour of these Russian constituent territories. They presented large-scale regionwide projects which could be rolled out across Russia. That means that residents of towns, settlements, and small villages will be able to get a better grasp of financial services and learn how to use financial technologies competently and protect themselves and their money from scammers.
‘A modern educated person is supposed to possess financial literacy and culture, namely to be able to invest his/her savings wisely, receive financial gains, and build up a financial safety cushion. The more financially literate people there are, the stronger finances of both the region and the whole country. We extend our congratulations to those constituent territories that have qualified for and taken part in the competition,’ said Minister of Finance Anton Siluanov.
The winning regions will receive informational, expert, and methodological support for their future projects. Moreover, they will host various forums and conferences on sharing best practices and promoting financial culture countrywide.
The All-Russian Financial Culture Capital Competition has been approved by the Government of the Russian Federation to be held on an annual basis to support the best regional financial education initiatives.
The competition had two stages. In the first stage, the competition committee examined the applications filed by 21 constituent territories of the Russian Federation. The applicants provided information about regional financial literacy programmes and local financial education infrastructures. The competition committee selected 12 finalists who presented their new educational projects they planned to implement. The awarding ceremony was held at the National Centre RUSSIA.