“Responsible Finance” (financial literacy, consumer protection, responsible provision of financial services) in the South Caucasus and Ukraine

Project term: 01.03.2015-28.02.2021

In Armenia, Azerbaijan, Georgia, and the Ukraine, which share a Soviet past and the experience that hard-earned savings can be lost through bad investments or the collapse of banks, confidence in the financial sector is very low.

The aim of the project is to promote responsible finance, which is understood to mean a fair balance of interests between a financial institution, its customers and business partners on the one hand and its shareholders and lenders on the other.

Responsible Finance thus describes the successful German Sparkassen model - based on their public law mandate, the Sparkassen in Germany combine economic efficiency with responsibility for society. In detail, Responsible Finance comprises the components of financial education, consumer protection and the creation of a responsible range of financial services.


  • Raising awareness of the aspects of Responsible Finance
  • Development and implementation of country- and partner-specific financial education strategies
  • Further development of training materials on financial education and implementation of training courses for various target groups
  • Expanding the range of financial services, especially in rural areas
  • Creation of demand-driven savings and credit offerings (including prevention of over-indebtedness)
  • Improving the efficiency of work processes at financial institutions
  • Improving the quality of customer advice
  • Increasing the population's confidence in the financial system

Financed by

Local Partners

» Central banks of the respective countries
» Youth organisations, associations and training centres
» Selected financial institutions

By working on this project, we are contributing to the fulfillment of these Sustainable Development Goals (SDGs) in accordance with the 2030 Agenda:

German Sparkassenstiftung for International Cooperation
Regional Office Eastern Europe and Central Asia
Ilia Chavchavadze Avenue 47a
0179 Tbilisi, Georgia

Телефон: +995 32 2224272

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