Mastercard is a global leader in electronic payments. It is known for its commitment to empower individuals and communities by launching valuable initiatives. One of the key focuses of Mastercard is to improve financial education. Mastercard launched the Financial Education Project in Georgia in February 2024. It targeted regions with ethnic and religion minorities. The project has been thriving for eight months, and is making a significant contribution to the community.
Mastercard is committed to fostering economic inclusion among Georgia’s religious and ethnic minorities. This transformative initiative aims at raising the level of financial education and empowering micro, small, and medium enterprises (MSMEs), individuals, students, and graduates by ensuring they have access to essential resources. The Financial Education Project, which is implemented by the United Nations Association of Georgia, with financial support from the US International Development (USAID), within the ‘Unity Through Diversity” program of USAID, has been a transformative force for Georgia’s ethnic minorities.
The key activities include the introduction and development of a basic financial module for students, schoolchildren and small and medium businesses, the creation of financial literacy departments in local libraries, translation of a dictionary of financial terms and explanations into Azerbaijani, Armenian and other languages, as well as the strengthening of basic management skills.
Since February 2024 the project has developed educational materials, public lectures, interactive seminars, online resources, and banking products. The project has already attracted participants in regions such as Samtskhe Javakheti and Kvemo Kartli.
Davit Zgudadze is the Regional Director for Mastercard in Georgia & Armenia. He says, “We are proud of our financial education project which has become synonymous with positive influences in Georgia.” “Over the last eight months, we have seen first-hand how financial literacy empowers individuals and businesses in particular regions populated with ethnic and religious minority groups. This initiative is part of our broader mission, which is to promote financial inclusion and growth in the country. We believe that by giving people the tools and resources they need to make informed decisions about their finances, we can not only empower individuals, but also contribute towards the overall well-being for the country.
Mastercard works with a number of key educational, financial, and business organizations in Georgia, such as Liberty, the National Bank of Georgia, the National Library of the Parliament of Georgia, Women for Tomorrow, Society and Banks, and education platforms like “Orjer Ori,” and “22 Gradusi.” It also partners with prominent national and local media representatives.
Mastercard’s financial literacy project will continue through the end of this year.
*The publication was produced as part of the USAID Unity Through Diversity program, implemented by UNA Georgia and the United States Agency for International Development.
The views and opinions expressed by the authors do not necessarily reflect those of USAID or UNA Georgia.
By Ana Dumbadze
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