Innovation Camp to Promote Financial Education

Innovation Camp to Promote Financial Education

28 June, 2021

The National Bank of Georgia teamed up with FinEdu, the financial education platform, and Junior Achievement Georgia, to host Innovation Camp, a two-day event for intensive generation of ideas on the topic of financial education, where students work on specific business challenges and try to address these using effective and innovative methods.

The focus for this year's camp was Innovation in Financial Education. Over 100 young people aged 15 to 18 from the regions of Georgia gathered online to discuss the challenges of financial education.

An educational lecture by the FinEdu team opened the event, followed by the discussion on the principle and significance of financial education. Next, the participants were given a situational task, and limited time to work as a team to come up with the solutions, which turned out to be quite interesting. The banking and financial sector experts were happy to advise the teams.

The participant teams made presentations near the end of the event. Following these presentations, the competent jury made its final selections. The winners and participants were awarded gifts and certificates (recognized in 123 countries).

Lasha Gzirishvili, Head of the NBG Department for Consumer Protection and Financial Education, noted: "As young people's financial education is one of the most important priorities for the National Bank of Georgia, various events are frequently organized for them. We are pleased that, for the fourth time this year, we have had the opportunity to set up a joint camp to further encourage the young people's growing interest in financial education. The knowledge and experience gained at the camp will help young people make responsible financial decisions in the future. Representatives of the financial sector and the NBG will be pleased to consider their ideas when working on financial education projects in the future."

The project was implemented as part of the United States Agency for International Development (USAID) Supporting Entrepreneurial Education in Europe and Eurasia Project with the co-funding and involvement of five commercial banks - TBC Bank, Bank of Georgia, Liberty Bank, Basisbank, Credo Bank and MBC microfinance institution.