Financial education in Kyrgyzstan
This page provides an overview of financial literacy in Kyrgyzstan and access to information relating to the country's financial education activities. Kyrgyzstan participated in phase I and phase II of the Technical Assistance Project on Financial Education in the Commonwealth of Independent States (CIS), Eurasia, which ran from 2017-2022.
Financial literacy in Kyrgyzstan
The OECD conducted a financial literacy survey among adults in Kyrgyzstan in 2017 and published the results in 2018. The average literacy score in Kyrgyzstan was 11.1 (out of a maximum of 21), according to the OECD methodology. In terms of measuring the financial knowledge, fewer than one in five adults (17%) in Kyrgyzstan achieved the minimum target score for knowledge or 4 out of 7. Furthermore, 21% responded that they did not know the answer to four or more of the seven questions. Slightly more than a half of all respondents (52%) in Kyrgyzstan achieved the minimum score for financial behaviour (which is 6 of the 9 behaviours). Three out of 10 adults (30%) were not always paying bills on time, a larger proportion than in most of the other countries and even more were failing to keeping watch of their financial affairs (37%). Two in five adults achieved the minimum target score for financial attitude (4 or above out of 5) in Kyrgyzstan.
The results of the second data gathering (2021) can be found here.
Kyrgyzstan's National Strategy for Financial Education
Kyrgyzstan implementated its first national strategy for financial education. The National Programme on Increasing the Financial Literacy of the population of Kyrgyzstan for 2016-2020 (National Programme) was approved by the Government of Kyrgyzstan in 2016. The national programme was developed recognising the important of financial literacy in the Kyrgyz context and the need for greater coordination of financial education initiatives. The priorities of the national strategy are focused on youth and schools. Key coordination role for the implementation of the national strategy lays with the National Bank. Kyrgyzstan has a financial education portal hosted by the National Bank (link)
Kyrgyzstan's participation in the project
The OECD-INFE Technical Assistance Project on Financial Education in the Commonwealth of Independent States (CIS) ran from 2017-2022. It provided tailored guidance and technical support for the design, implementation and review of evidence-based financial education strategies and policies in CIS economies. This project covered seven countries: Armenia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan. The project benefited from the finance support of the Ministry of Finance of the Russian Federation. Kyrgyzstan participated actively in the project from the beginning. The country contributed to the first data collection survey in 2017 and to the follow-up survey in 2021.
The National Bank of Kyrgyzstan co-hosted a National Conference and a series of workshops in August 2019. Additionally, experts from National Bank of Kyrgyzstan and Ministry of Education have been actively taking part in other events and conferences organised in the framework of the project. Kyrgyzstan was actively taking part in the organisation of peer-learning activities planned in the framework of the Phase II.
Project documents and links
The following documents produced within the framework of the project are either specific to Kyrgyzstan or contain a section relating Kyrgyzstan: