Resource Development:
In 2006, the Citi Foundation supported Microfinance Opportunities to launch the first large-scale, global initiative to build financial capabilities of low-income individuals in developing countries. Microfinance Opportunities led the program, in collaboration with Freedom from Hunger, and conducted market research with six microfinance institutions to determine the appropriate content and delivery mechanisms. Throughout the initial three-year program, Microfinance Opportunities continued to work with organizations from around the globe to review and adapt the curricula to ensure it was based in the realities of low-income consumers. The resulting financial education curricula includes:
- Budgeting: Use Money Wisely [link to these in the Resources section]
- Debt Management: Handle with Care
- Savings: You Can Do It!
- Bank Services: Know Your Options
- Financial Negotiations: Communicate with Confidence
- Young People: Your Future, Your Money
- Remittances: Make the Most of Them
- Risk Management and Insurance: Protect Your Family’s Future
- Consumer Protection: Balancing Rights and Responsibilities
Expanding the Reach of Financial Education:
Microfinance Opportunities has broadly spread financial education through building the capacity of microfinance and community-based organizations’ trainers as well as providing technical assistance to partners to help them develop and implement their own financial education programs. Through partners, key messages of the curriculum have been promoted via print, radio, television and street theater to further raise awareness about the importance of sound financial behaviors.
To date, the Global Financial Education Program has reached approximately 30 million people through its curricula, trainings, mass media and other outreach activities. More than 450 organizations in 60 countries have participated in the program.
