The enhancement of capacities of the financial market regulators (the National Bank,
the Ministry of Finance, the Securities Commission, the Insurance Supervision Agency and
the Agency for Supervision on Fully Funded Pension Insurance) in the field of financial
education and inclusion, through cooperation with eminent international financial institutions
This year begins the second phase of the Financial Literacy Project with INFE-
OECD, together with the Ministry of Finance of the Netherlands and the Money Wise
platform which will last in the following five-year period, i.e. from 2023-2027. The main
priority of the next phase of this Project is to support countries that are part of it, to raise the
level of financial literacy among the population by assisting in the design and implementation
of financial literacy strategies and policies, by providing analyses, reports and
recommendations for capacity building according to the institutional needs and strategic
priorities of the countries.
The project, implemented with the financial support of the Dutch Ministry of Finance,
in addition to our country, shall cover countries such as Bosnia and Herzegovina, Bulgaria,
Georgia, Armenia, Moldova, Romania, Ukraine, Croatia and Montenegro. Through the
planned activities, an opportunity to access appropriate expertise for relevant and current
issues in the field of financial literacy from the region and beyond will be provided, therefore
encouraging development of more effective initiatives for financial education and inclusion,
by using the experience of the best international practices.
This has been a continuation of the first phase of the project, which was successfully
implemented during the period of 2018-2022. Within the first phase, the Coordination Body
of the financial regulators for financial education and financial inclusion, prepared the first
National Strategy for Financial Education and Financial Inclusion for the period from 2021-
At the same time, the Code of Good Practices for Financial Education was developed,
in addition to the Basic Competencies for Financial Education. Moreover, a Register of
entities from the private and civil sector, involved in the field of financial education and
inclusion, has been formed. Within the first phase, among other things, INFE-OECD
conducted a measurement of the financial literacy of the population, as well as a survey on
the financial literacy and digitalization of micro, small and medium-sized enterprises. These
measurements indicated the current situation and represent a guide for further activities in
this sphere, which will continue to be implemented in the next phase of the project.