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ESBG endorses Venice Declaration on Financial Education to empower citizens

ESBG endorses Venice Declaration on Financial Education to empower citizens

​Released at European Microfinance Network annual conference

>> See the full text of the declaration​

​​​BRUSSELS, 22 June 2017 – ESBG announced today that it has endorsed the Venice Declaration on Financial Education released this week ​by the European Microfinance Network (EMN) during its 14th Annual Conference in Venice, Italy.  

Financial learning comes first

Financial education is crucial to create a sustainable and inclusive financial sector. Endorsers of the Declaration subscribe to the UN Sustainable Development Goals, particularly with respect to ending poverty, promoting inclusive and sustainable economic growth employment and decent work for all, and reducing inequalities.​ The European Microfinance Network puts the spotlight on the importance of increasing the financial literacy of the population in order to fight social exclusion. The declaration says financial literacy should be included as a key competence within the Life Long Learning Key Competences Framework, currently under review by the European Commission.  The declaration also highlights the importance of the multi-stakeholder approach when promoting financial education efforts and thus, inclusive finance.

Savings and retail banks and financial education

ESBG and its member savings and retail banks recognise the importance of promoting financial education for all citizens worldwide and continue to carry out a wide range of initiatives with the aim not only to prevent social and economic exclusion, but also to contribute to the commitment of providing citizens with a better knowledge of financial issues that will enable them to make informed choices. Based on the principle that financial education must be introduced at an early age, ESBG thinks that it should be provided to everyone and at all ages. ESBG consider that it must be a continuous process that constantly adapts to the changing nature of the social, financial and political context, where several actors representing different sectors of society shall play a key role in improving its efforts to attain good results in this field.

ESBG and the European Microfinance Network

ESBG is a longstanding member of the European Microfinance Network, and work together  in the promotion of mutual activities, and particularly, leveraging microfinance by fostering the engagement of savings and retail banks in the provision of microcredits in Europe.

ESBG believes that financial education is a first step towards financial inclusion, and therefore to achieve the completion of the Sustainable Development Goals and 2030 Sustainable Development Agenda. 

​About the conference

Held 22-23 June, the European Microfinance Network (EMN) 14th Annual Conference aims at being a meeting of minds, ideas and experiences. About 300 delegates attend, including microfinance practitioners from all over Europe, service providers, academics and researchers who are interested in the recent developments of the sector, as well as representatives from the other interested parties including policy makers, NGOs and guarantee-granting institutions.​​

>> See the full text of the declaration​

Financial inclusion