OREANDA-NEWS. September 30, 2010. The New Economic School and Citi announced the launch of a new project aimed at developing unique multimedia materials on personal finance management. Among the materials to be developed is the web book Financial Literacy, which will help readers learn the basics of personal finance in an interactive form, reported the press-centre of Citi.

The book will cover not only direct financial instruments (deposits, loans, securities, etc) but also financial planning and investment technologies. An investment on-line game will also be created to familiarize users with capital management and bank, insurance and equity products. Players will learn about the most important investment principles, including balance of risks and returns, profitability of diversification, currency risks, inflation prevention and others. Created materials will be disseminated free of charge.

Sergey Guriev, Rector of the New Economic School, said: "Financial education is a major focus for the The New Economic School. We believe that in this sphere it is not only the content that matters, but also the way of teaching. It should be interesting and easily comprehensible. That’s why in this new project with Citi we count on the modern multimedia technologies."

Zdenek Turek, Head of Citi Russia and CIS, said: "One of positive outcomes of the crises is that people realized the necessity of financial education. People understood that basics of personal finance and informed decisions on financial products enable them to have better lives for themselves and their families. Our experience in development of such projects in many countries in the world always shows their high effectiveness and demand. That is why we are pleased to continue our successful cooperation with the New Economic School that will help us reach more people."

The joint project is a logical continuation of the successful collaboration of the New Economic School and the Citi Foundation that begun in 2008. Previously the partners worked together on publishing books on financial literacy and developing courses for universities and schools in Volgograd, Rostov-on-Don, Samara, Yekaterinburg and Nizhniy Novgorod. New materials will include not only the pilot experience in financial literacy teaching of different groups of people, but also will allow to massively increase the audience due to possibilities of multimedia technologies and internet.