03/02/2016 – The current inflow of refugees to Europe is unprecedented in terms of the number of people involved and is creating significant challenges for asylum systems and integration policies in host countries. Beyond the necessary immediate humanitarian response, the successful integration of refugees also depends on how well they adapt to the economic and financial systems in host countries.
This includes the development of financial competencies to allow them to understand the new financial and social context, to make suitable financial decisions and to actively participate in economic and financial activities in their host countries.
In this context, financial education can contribute to the longer term policies aimed at facilitating the integration of refugees in a post-crisis scenario. The provision of financial education, as a complement to supply-side financial inclusion initiatives as well as other education and health support, can support refugees and migrants by facilitating social and labour market inclusion as well as improve their (financial) well-being.