Financial Literacy and Education - Russia Trust Fund

The Russia Trust Fund (RTF) allowed the World Bank and the Organization for Economic Co-operation and Development (OECD) to develop a comprehensive definition of financial capability and review research on existing programs, in order to develop and test measurement and evaluation methods.

Both institutions developed survey instruments to measure and monitor the knowledge, attitudes, skills, and behavior of individuals. The World Bank developed diagnostic and measurement tools and reviewed various programs designed to improve financial capability. The OECD, with the International Network for Financial Education (INFE), reviewed policy development and national strategies to facilitate the sharing of experience and formulate principles, guidelines and best practices.

The Trust Fund was operational between 2008 and 2013. The Russian Federation at the time had committed to providing US$15 million for four years to finance the effort.

The products delivered under the full or partial RTF funding are presented below.

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World Bank Flagship Reports

Enhancing Financial Capability and Behavior in Low- and Middle-Income Countries
The final output of the Russia Financial Literacy and Education Trust Fund (RTF), this volume presents the results of the Trust Fund’s pilot projects - some truly pioneering research in financial capacity building, including methods to increase financial awareness and encourage safer financial behavior.
The following flagship reports cover RTF's work program and results in measuring financial capability and evaluating policy interventions in this area.

OECD/INFE Set of Criteria, Principles, Guidelines
and Policy Guidance to Improve Financial Education

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