Director of the World Bank in RF visited Krasnodar

On February 18, Mr.Andras Horvai, Director of the World Bank in RF, visited Krasnodar. Andras Horvai, Director and Permanent Representative of the World Bank in RF, studied the experience of the bank "Center-Invest" on establishment of Financial Literacy Centers.

On February 18, he visited such center in Krasnodar. This project has been implemented in partnership with the largest higher educational institutions of the South of Russia. The Center conducts free training and consultancies related to financial matters for youth and schoolchildren, working-age citizens as well as pensioners and representatives of small business.

Andras Horvai expressed interest to such socio-educational project and emphasized the importance of financial literacy for the community of middle age. In his perspective, those are the most economically active citizens with long-standing financial habits, however, less than others are willing to put a focus on training. During the visit of the Center, the parties discussed issues of popularization of financial knowledge among citizens of all ages.

Following the results of international comparative survey of financial literacy of adult community Russia ranked ninth among G20 countries. The most financially literate appeared to be residents of France and Canada. The survey was conducted by the Organization of economic cooperation and development; in Russia it was initiated by the Russian Ministry of Finance.     

For reference:

Bank "Center-Invest" is the largest regional bank of the South of Russia. Shareholders of the bank: European Bank for Reconstruction & Development (19.74%), German corporation of investments and development DEG (16.14%), V.V. and T.N.Vysokovy (24.43%), responsibility Investments AG (10.02%), Firebird Investment Fund (9.11%), Erste Group Bank AG (9.01%), Rekha Holdings Limited (7.49%), Raiffeisenlandesbank Oberosterreich Aktiengesellschaft (3.3%) and others (0.76%). The branch network of the bank "Center-Invest" has 133 offices in Rostov and Volgograd regions, Krasnodar and Stavropol regions, Nizhnyi Novgorod as well as representative office in Moscow.   

Based upon the materials of "Business newspaper – South"