Bashkiria may receive additional funds to increase financial literacy

Bashkortostan will take part in the competition of the Ministry of Finance of Russia on the right to receive additional funds for the regional program implementation on increasing financial literacy of the population.

“The total cost of the program meant for 2011-2015, makes 113 million US dollars: 88 million are allocated by the federal budget and 25 million by the International Bank for Reconstruction and Development,” the Minister of Finance RB Ruzaliya Khismatullina informs at the session of expert group on financial literacy of the population of Bashkortostan Republic.

According to the press-service of the Ministry of Finance RB, the project is implemented in two stages. The first is meant for 2011-2013. Two pilot regions took part in it: the Kaliningrad and Volgograd Regions. In 2013 the Ministry of Finance of Russia will choose seven-eight regions for the second stage planned for 2014-2015.

Under preliminary forecasts, not less than 30-40 subjects RF will participate in the selection. The region should present a draft program to increase financial literacy together with the application.