The minister of Economy and Knowledge of the Generalitat of Catalonia, Andreu Mas-Colell today chaired the presentation of the fourth EFEC program in Financial Education in schools, coinciding with the Financial Education Day, an initiative of the Financial Education Plan, promoted by various institutions and entities ofSpain.

This program saw the participation as voluntary trainers of over 600 professionals from the financial sector – actively and also retired -, who will teach basic financial education to 20,000 students, boys and girls aged sixteen and also students from adults’ schools from a total of 300 educational centres from aroundCatalonia. EFEC is a pioneering educational experience inSpainand aims to introduce Catalan students, especially those of that age range, to basic financial knowledge.

The program is an initiative of the Generalitat of Catalonia and the Institut d’Estudis Financers (IEF) in conjunction with CaixaBank, Banc Sabadell, BBVA, Banco Santander, Caixa d’Enginyers and the Institut Català de Finances (ICF). The ICF is taking part for the second consecutive year. In this fourth edition there are also volunteers from the Association of Economists and EFPA- Spain, in addition to the financial entities already collaborating.

In all, via this program 3,600 educational workshops will be held on different subjects: such as correct administration of your money, finances for day-to-day life, frequent doubts, responsible borrowing, intelligent investment or a new subject with regard to obtaining proper information before deciding.

This year the program includes new features such as the creation of an academic advisory committee comprising teachers, experts from the department of Education and professionals from the IEF to permanently review the teaching contents. And also a graphics among the schools taking part which will boost the creativity, innovation and entrepreneurial spirit of the students in the field of financial education.

The aim of the EFEC program, in keeping with the recommendations and guidelines of the European Commission and the OECD is to raise Catalan students' awareness of the use of money and to understand basic financial operations. Unlike other similar programs taught in our country, in the EFEC program it is professionals in finance who, after receiving specific training by the IEF teaching team who voluntarily take responsibility for transmitting financial knowledge to young people.