- About us
- Business Games
Armenia, Azerbaijan, Georgia, Iran, Ukraine
Local Project Partners
Central banks of the respective countries,
Youth organisations, associations and training centres,
Selected financial institutions
Sparkasse Märkisches Sauerland Hemer-Menden
German Federal Ministry for Economic Cooperation and Development (BMZ)
1 March 2015 to 28 February 2021
(Overall project term)
With the exception of Iran, all of the countries involved in this project have a Soviet past. The loss of hard-earned savings following investments in a snowball scheme or the collapse of a bank is an experience they have in common. The upshot: people have little confidence in banks and the financial sector. Meanwhile, in Iran, the financial landscape is now evolving.
As a consequence, the project aims to promote responsible finance. Essentially this means achieving a fair balance of interests between the financial institution and its customers and business partners on the one hand and its shareholders and creditors on the other. Responsible finance is thus synonymous with the successful German Sparkassen model. In keeping with their public service remit, Germany’s Sparkassen combine economic efficiency with social responsibility.
Specifically, responsible finance comprises financial education, consumer protection and the creation and delivery of a responsible range of financial services.