Global Money Week

2017 Armenia Global Money Week

Leading Organizations:
Central Bank of Armenia

Participating Organizations:

American University in Armenia, “Anania Shirakatsy” Armenian National Lyceum Educational Complex, Armenian State University of Economics

The members of National Strategy of Financial Education,

Ministry of Education and science, Ministry of Finance, Deposit Guarantee Fund of Armenia, Financial System mediator

Financial Institutions

NASDAQ OMX Armenia, Armbusinessbank Ingo Armenia Insurance, Global Credit Universal credit organization, Central Bank of Armenia Visitor Centre, French University in Armenia, Mkhitar Sebastatsi” Educational Complex, Children of Armenia Fund (COAF), Tumo Center for Creative Technologies, Yerevan State University, Avan Cultural Center, National Center Of Aesthetics, Sevada” Art Studio, More than 20 secondary and high schools, Media


For the fourth time, the Central Bank of the Republic of Armenia (CBA) joins the worldwide initiative of Global Money Week 2017 to enhance financial capabilities of children and youth, which will culminate in the “My Finance Month 2017” (MFM 2017) project. In the scope of the GMW 2017, students from numerous schools will join the excursions to the “Visitor’s Centre” of CBA to receive information about the history of the Armenian Dram, as well as the role and policies of CBA. The Center on “Consumer Rights Protection and Financial Education” of CBA plans to host over 100 attendees. The event will be followed by the card game called “Activity”. In order to develop a positive attitude towards financial institutions, bus tours will be organized for the general public to CBA, Financial System Mediator, Stock Market, Commercial Banks, Insurance Companies and Credit Organizations. Workshops, debates and seminars related to personal finance management will be implemented in different secondary and high schools, as well as universities both in Yerevan and in the regions of Armenia reaching out to around 400 people. Holding intellectual games turned into a tradition and is actively welcomed by the youth.

This year CBA plans to hold 5 competitions: Photo competition, Art competition, two Infographics competitions and a Recycling competition.

The best oeuvres gathered through the challenge “Saving Jar” will be presented during the exhibition at the Dilijan “Knowledge for Development” Center. Selfie challenge is also in the list of the planned activities. Abovementioned events will be promoted through the financial educational website www.abcfinance.com, TV and radio, as well as through social media (Facebook, Twitter, Instagram and YouTube) pages of the CBA Center on “Consumer Rights Protection and Financial Education”. The results will be summarized at the end of MFM 2017. It is planned to reach out to more than 6000 beneficiaries.

Children of Armenia Fund) will also participate in GMW 2017 with beneficiaries of their programmes. Alongside with its partners (schools, universities, banks, corporations, and financial institutions) COAF will hold workshops and sessions at rural schools for middle and high school students. Throughout the week students from 13 COAF beneficiary schools will have visits to the Central Banks, state banks, Economic University, American University of Armenia to discover more about the sphere and its functions as well as possibilities to get involved.


2016 Armenia Global Money Week

Leading Organizations:
Central Bank of Armenia
Participating Organizations:
AIESEC Armenia “Mkhitar Sebastatsi” Educational Complex Junior Achievement Armenia Anania Shirakatsi (Educational Complex), Mkhitar Sebastatsi (Educational Complex), Eurasia (Educational Center), 109 high school (Yerevan), 195 high school (Yerevan), 3 high school (Gyumri), Gyumri Foton College, 5 high school (Vanadzor), 11 high school (Vanadzor), Dilijan State College, Armenian State University of Economics, Eurasia University, Aeon library/club, “PASS” LLC, Central Bank of Armenia Visitor Centre, The members of National Strategy of Financial Education, Aflatoun, COAF (Aflatoun partner)
Date of the event:
14th - 21th of March
Total number of children & youth engaged: 3 705
Total indirect reach: 5 000

This is the second year that the Central Bank of Armenia lead different financial programs during GMW. In 2016 in Armenia, GMW started in March and was continued through “My Finance Month 2016” project in April.

FLY (Financial Literacy for Youth) project was conducted in four Armenian cities (Yerevan, Gyumri, Vanadzor, Dilijan). The project was organized by AIESEC Armenia in cooperation with the Central Bank of Armenia. Six young economists from Hong Kong, Brazil, USA, Turkey, Serbia and Canada are in Armenia with the mission to motivate and give basic financial knowledge on personal financial management to youth who do not have access to economic or financial education. One of the key points of the project is to create a cross-cultural platform for Armenian youth to develop their managerial and financial knowledge/skills. The participants developed their hard and soft skills in finances, leadership, management and the like. More than 30 seminars were held during the project with more than 450 participants (mainly students).

Young students of the Children of Armenia Fund and Military Aviation Institute after Marshal Khamperyants visited the “Visitor’s Center” of the Central Bank. They were informed about the history of Armenian Dram, the operations and role of the Central Bank, monetary policy, etc. The employees of the “Consumer rights protection and financial education” center of the Central Bank of Armenia organized two workshops for the youth: “Professional orientation” for the Children of Armenia Fund and “Personal finances: how to manage them in a better way?” for the Military Aviation Institutes students.

During GMW 2016, the Central Bank of Armenia announced five competitions: the Photo Story competition with the topic “Debt management”, the Art Competition for children between 5 and 12 years old with the topic “The life on my financial planet”, the Storytelling competition for the schoolchildren between 12 and 16 years old, the Financial Brochures competition with two topics: “My tomorrow starts today”, “Balance in everything” and the GMW Selfie competition. The competitions were promoted through the financial education website (www.abcfinance.am) as well as through social media (Facebook, Twitter). Thus far, there are approximately 400 participants though the final results will be recapitulated at the end of April during the “My Finance Month” closing ceremony.

An interactive workshop on “Personal Finances: why, what do I have to do with this?” was conducted by the Financial Education Specialist of the Central Bank of Armenia in the Mkhitar Sebastatsi Educational Complex. Before the workshop, the students danced traditional Armenian dances to integrate Armenian national spirit into GMW. After the workshop, the students organized a bike tour to demonstrate the importance of nature and its impact on improving the efficiency of saving processes. The program had 70 participants involved.

Furthermore, on 15 March, Junior Achievement of Armenia, within the framework of the “Entrepreneurship and Civic Education for Young People of Armenia” program, awarded small grants to eleven student business companies to implement social projects in their communities. To augment their social enterprise budgets, JAA held competitions wherein the social enterprises submitted a proposal to receive a grant for their community projects. One hundred student social enterprises presented a proposal requesting $300 to add on to their program budgets. A committee selected 11 student companies, one from each region of Armenia. Each student social enterprise received $300 grant to implement their social project, and they were awarded at the Award Ceremony in Yerevan.

“Of course it’s easier to postpone things until tomorrow: I will do my lessons tomorrow, I will visit my grandparents tomorrow, I'll clean my room tomorrow… I will save tomorrow. But in this case, you can’t establish new goals and build a new action plan for tomorrow! Tomorrow is not around the corner. Successful people look forward and they don’t correct the mistakes of the past all the time! We suggest that you start the job that you need to do today - NOW. By saving, you can reach your personal goals faster. It will be your motivation for defining new goals and building your successful way. You can pay your University tuition on your own; you can help your parents; you can discover the wonderful world, etc. It is not a dream; it can be real if you gain from every moment. Think about it and act right now! Take part. Save smart!” Sona Lalayan, Coordinator of the financial educational projects in Armenia, Central Bank of Armenia

2015 Armenia Global Money Week

Participants:
Central Bank of Republic of Armenia "Mkhitar Sebastatsi" Educational Complex Junior Achievement Armenia Children of Armenia Fund (COAF)
Date of the event:
9th - 17th of March
Number of children reached:
450

The Central Bank of the Republic of Armenia participated for the first time in Global Money Week by conducting a series of events at the "Mkhitar Sebastatsi" Educational Complex, AYB School, College of Technology and Yeghvard School in Yerevan. Activities included seminars and debates about Armenian economy and trainings on the management of personal finance, role of financial markets, IT and tourism in economy, types of commercial organizations and other topics. Central Bank of Armenia also organized an essay competition ‘How would I manage my first million?’, and competition on preparing social and commercial advertisement on finance-related themes by children. Elina Hakobyan, Mariam Mansuryan and Karine Hovhannisyan won an essay competition ‘How would I manage my first million?’ with incredible stories that also showed their economic literacy. School children in the age group of 11-16 years old also visited the Visitor Center of the Central Bank of Armenia where they attended interactive seminars on the History of Armenian Dram, Monetary Policy, Inflation and Financial Markets of Armenia.

Civil society organizations in Armenia also actively participated in this year’s Global Money Week. Junior Achievement Armenia held a Student Trade Fair on 9 March in Gymri, the second biggest city of Armenia. During the fair, 12 student companies presented their products to potential consumers. The products included hand-made jewelry, scarfs, dried fruit, candles, purses and gift bags. The Student Trade Fair is an educational activity which allows the students to showcase their economic and financial knowledge and to demonstrate the entrepreneurial skills which they acquired during their studies.

Children of Armenia Fund also participated in Global Money Week by organizing visits to the Visitor Center of the Central Bank of Armenia for Aflatoun students from Getashen and Dalarik schools. They visited the exhibition displays on the history of the national currency, laboratory for checking notes and coins, and participated in a special audio-session about the structure and functions of the Central Bank. Other events organized by Children of Armenia Fund included an interactive performance about important economic and financial concepts by students of Getashen village for their school mates and teachers. On 13 March, a special informative flash-mob was conducted during the break at Dalarik School with an aim to raise awareness about this year’s theme - savings. More than 60 students and teachers joined the flash-mob.

 

2014 Armenia Money Week

Participants:
Junior Achievement Armenia Aflatoun
Date of the event:
17th of March
Number of children reached:
TBC

Students who are a part of the Junior Achievement’s (JA) group in Armenia participated in Aflatoun’s Global Skype calls on March 17 where they connected with students from Colegio Santa Eulalia in Portugal. Aflatoun Day was celebrated globally on the last day of Global Money Week. The Armenian and Portuguese students loved chatting to each other about their respective entrepreneurial activities. The Armenian students showed off their self-made creative mobile phone accessories and shared that they raised approximately 300 euros by selling them. They explained that the money will be used for school excursions. The Portuguese students talked about their school garden which they harvest for fresh vegetables which they sell to the community (parents, teachers and other children).

JA Armenia also conducted enterprise activities in various schools through Global Money Week. The youngsters in the JA program used social and financial enterprises to raise funds for peers with specific needs or for their school.

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