Signing of the Financial Education Plan 2022-2025 agreement, with the Ministry of Economic Affairs and Digital Transformation joining as a promoter
The Financial Education Plan (FEP) is an initiative whose aim is to improve the general public’s financial culture, equipping them with the basic knowledge and tools required to manage their finances in an informed and responsible manner.
Until now, the Spanish National Securities Market Commission and the Banco de España have been the promoters of the agreement governing the FEP.
The major change in this new four-year agreement is the inclusion of the Ministry of Economic Affairs and Digital Transformation as one of the Plan’s promoters.
The new agreement, reflecting the Ministry’s inclusion, in addition to the undertakings for the next four years, the governance arrangements and the action plan for that period, was signed today.
The main projects under the FEP 2022-2025 are:
- Expanding the Plan's network of collaborators by including institutions that can convey the social concerns of the groups most affected by the main problems stemming from a lack of financial education.
- Developing content aimed at specific groups: specific training initiatives to cater to the needs of vulnerable groups, digital competencies training and sustainability and entrepreneurship-based content.
- Increasing knowledge of changes in the Spanish population’s financial education needs by preparing a new Financial Literacy Survey that measures the Spanish adult population’s level of financial knowledge.
- Assessing the impact and effectiveness of the Plan over the years it’s been implemented.
- Harnessing all available channels of communication: using new dissemination channels that ensure that the initiatives adopted reach as many people as possible.
- Making the education community more of a focal point by homing in on the promotion of financial education within certain groups, such as primary education, vocational training and university students.
More information on this initiative can be found here.