World Savings Day: Georgia promotes savings culture among children

Higher prices for vegetables contributed to a 0.9% increase in the cost of food and non-alcoholic beverages month-on-month, noted Geostat. Photo by N. Alavidze/, 31 Oct 2016 - 15:36, Tbilisi,Georgia

Georgia is promoting savings culture to ensure social welfare in any economy while celebrating the World Savings Day today.

Eight Georgian commercial banks together with the National Bank of Georgia (NBG) and the Savings Banks Foundation for International Cooperation will jointly hold the different events dedicated to the World Savings Day.

Savings day is a reminder that every one of us has to learn how to properly allocate our incomes and expenditures,” said the Executive Director of the NBG Giorgi Melashvili.

Starting today people around the country are invited to celebrate World Savings Day and attend any or all of the various events taking place over the next six days.

The celebration will end on a high on November 5 at the Money Museum of the NBG.

One of the events within the World Savings Day celebration will be a competition where children under 14 will create a video on money saving topic where they will explain what the saving is and will give the best saving options.

On November 3 the 15 winners will be revealed and the commercial banks will open deposit accounts for them, where children will save their money.

Furthermore, the commercial banks will offer different activities for the schoolchildren to introduce them the benefits of savings and teach them how and why to save money.

At the occasion and around that day financial institutions will in particular attract children, young people and their parents by offering specific products, explaining how to best get along with one’s money, and undertaking interesting events.

In these campaigns the banks will use Georgian symbol of the World Savings Day with ‘Grovia’ will be displayed in bank branches, on ATM machines, websites and social media.

‘Grovia’ translates in English as a person who likes saving.