International conference on "Financial literacy strategy for micro, small and medium enterprises” was held

Date: 2021/03/24

In cooperation with other organizations, the Bank of Mongolia has been implementing the “National program for financial literacy”, since 2016. The main priorities of the program are to provide financial literacy to school children, youth, rural residents, and mass communication/media. In addition to the program’s priorities, the Central Bank is working to add a new target – which is to provide financial education to micro, small and medium enterprises (MSMEs), starting this year.


As part of this work, the Bank of Mongolia is implementing a project entitled – “Financial Literacy Training Programme for MSMEs in Mongolia”, in cooperation with the EBRD and the support of the European Union. Therefore, an international conference to discuss the outcome of the project was held online on March 22. The meeting was opened by Mr Enkhtaivan Ganbold (Deputy Governor of the Bank of Mongolia), Mr Hannes Takacs (Associate Director/Head of Mongolia of the EBRD) Mr Pierre-Yves Lucas (Team Leader - Cooperation Section, EU Delegation to Mongolia), Mr Shaun Mundy (Senior Vice President of The Financial Literacy Group), Ms Flore-Anne Messy (OECD Division Head, Consumer Finance, Insurance and Pensions Executive Secretary of the INFE).


Experts of the consultant team presented the results of the training with MSMEs, the train of trainers, main findings of the survey, and “national strategy for financial literacy of MSMEs in Mongolia”. Furthermore, Sparkassenstiftung Mongolia’s country representative and long-term expert Mr. Markus Loch was presented “new approach of the train of trainers for Mongolia” during this virtual event.


At the end of the conference, an introductory video presentation on the training as well as a ceremony for the trainer’s certificate was shown, and the “Global Money Week 2021” campaign was officially announced in Mongolia.