Financial Literacy for Inclusion: IHF joined the online Kick-Off Meeting of FLY

On February 3rd  2022, IHF joined the Kick-Off Meeting of FLY, a Project co-funded by the Erasmus Plus Programme of the European Commission, which brings together 7 Partners from 5 countries (Italy, Spain, Belgium, France and Turkey). The KOM was held in online mode.

The FLY Project aims to provide effective tools to spread financial literacy among the adult population as according to the Global Attractiveness Index 2020, it is highest between the ages of 35 and 44 and low in people under the age of 35 and very low in low skilled adults (over 50).

Financial literacy is “a combination of financial awareness, knowledge, skills, attitudes and behaviours necessary to make sound financial decisions and ultimately achieve individual financial well-being” (OECD, 2009).

Due to the economic shock associated to the consequences of the COVID-19 pandemic, that is likely to be significantly larger than anything seen since the financial crisis of 2008/09, financial literacy is now globally acknowledged as an essential life skill and targeted financial education policy is considered to be an important element of economic and financial stability and development.

During the meeting, the consortium as a whole discussed about the overall project implementation schedule, defining timelines and respective duties. During the first phase, partners will carry out research and analysis activities aimed at identifying self-assessment tools for financial literacy. The results will help partners develop tailored training courses and tools to be uploaded on the FLY OER platform, along with other project’s outputs, news and contacts that will be available on the FLY website for individual users, VET providers and policy makers.

Topic wise, IHF developed relevant experience in finance, financial awareness, financial innovation not only through its participation in several projects, but also thanks to the participation of its core members in policy consultation several Advisory Groups of the European Commission in Finance and Private sector development.

In the context of this project, IHF will be responsible of the dissemination activities, but its members will also have to deal with technical and horizontal aspects of project management.

For further information on FLY: