Abstract

How can financial education contribute to a sustainable and inclusive recovery?

The 2021 EduFin Position Paper was created through a process of reflection and debate carried out by the BBVA Center for Financial Education and Capability, which, as a result of the outbreak of the COVID-19 crisis, raised an initial question: How can financial education contribute to a sustainable and inclusive recovery? The report concludes that financial inclusion, digitization, sustainable development, cooperation between stakeholders, and the improvement of financial health, are the main challenges in the field of financial education. Its objective is not to provide conclusive solutions to the challenges of the sector, but to indicate the key areas of action for the coming years and offer basic recommendations for stakeholders who wish to get involved in the field of financial education, either in the public or private sphere. The five main conclusions of this document are: 1- Financial inclusion and financial education are key elements for a more inclusive recovery. 2- The pandemic has accelerated the acquisition of technology, as well as the digitization of finance. 3- The crisis has highlighted the importance of having good financial health. 4- Boosting sustainable development is presented as an unprecedented opportunity. 5- Stakeholder cooperation is essential in order to achieve a more sustainable and inclusive society.