“FINANCIAL EDUCATION PROJECT” that starts this month, aims to bring together microfinance experts in Bulgaria.
Supported by Citi Foundation, the “Financial Education Project” aims to strengthen the financial capability of low-income households, so they can protect their scarce resources and build assets through smart debt decisions.
The project will reach 25 local trainers and counselors from microfinance community in Bulgaria, who will gain knowledge and expertise in delivering high quality financial education workshops and counseling sessions to low-income people in both urban and rural areas.
During the project, more than 300 vulnerable individuals will improve their basic financial practices by learning how to create and use a repayment calendar, calculating their own savings capacity, planning and putting to practice an internal emergency fund.
Stefan Felstein, Citi Country Officer for Bulgaria said, "We are very happy to be partnering with Mikrofond AD in creating additional financial education resources in our local Bulgarian communities. Citi is proud to be assisting in helping our communities, where we live and work, in order to create more knowledge and opportunity."
“We, believe that financial education increasingly becomes a valuable part of the service we provide to the communities we operate in. We are committed to raise the awareness of our community about the benefits and risks of using loan capital and to promote responsible use of credit. We are glad that the project will provide a knowledge asset to our beneficiaries that will help them endure the challenging years that lay ahead us”, explains Mr. Georgi Breskovski, Executive Director of Mikrofond AD.
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