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  • Name: DIFILIM (Digital Financial Literacy for Microenterprises)
  • LCCI position: Lead Partner
  • Total budget: 234 091.00 EUR
  • Project period: 01.11.2021 - 31.10.2023
  • Programme: Erasmus+
  • Partner countries: Latvia, Cyprus, Italy, Portugal, The Netherlands
  • Website:

Most firms in European countries are SMEs, with rates exceeding 90%, whilst such countries also present very high solo self-employment shares in the EU. At the same time, the momentum for firms in these countries has not looked particularly favourable over the last decade. The rise of non-performing loans, the fragmentation in the EU financial system, and the marginal availability of alternative sources of financing hinder the productivity growth of firms across sectors and deter innovation and digitalization, which are perennial to the integration of enterprises into the 4th industrial revolution. Against the above background, the era of financial technology (FinTech) is changing the financial services industry at a rapid pace, with consumers and “small investors” becoming increasingly more exposed to new financial products. Managing personal finances today is more complicated and time-consuming, yet more important than ever. People need to have an ever-increasing financial awareness to effectively use products offered through digital channels. The digital age demands “digitally smart” people for their effective participation in the new economy.


The project has set the following goals:

  • To contribute towards enhancing digital financial literacy/inclusion in certain European micro, small and medium-sized enterprises (MSMEs).
  • To identify digital and financial literacy needs and provide training to fill in this gap for both professional and unemployed people.
  • To develop an attractive, training programme in the country language, that will allow digital financial literacy enhancement.
  • To deliver a curriculum to meet the real needs of entrepreneurs in the areas of financial literacy and digital skills. 
  • To design and apply a curriculum to deliver skills in a combination of methods including an e-learning platform. 
  • To create networks at local, regional, and European levels for spreading good practices of educational integration.

Planned project activities:

  • Research on the needs and impact of Digital Financial Literacy on enterprises in each Partner Country;
  • Guidebook of Digital Financial Literacy for Microenterprises in each Partner Language;
  • Online Training Platform development in English and each Partner Language;
  • Monitoring, Quality Assurance Plan and Dissemination Strategy.


Lead partner:

  • Latvian Chamber of Commerce and Industry (Latvia)


  • Turiba University (Latvia)
  • Cyprus University of Technology (Cyprus)
  • Magnetar Ltd (Cyprus)
  • Forma Camera, Special Agency of the Chamber of Commerce, Industry, Craft and Agriculture of Rome (Italy)
  • Amadora Inovation E.M. Unipessoal Lda (Portugal)
  • Stichting Incubator (The Netherlands)

LCCI Contacts:

Marta Bērze
Project Coordinator of EU Projects Department 
Latvian Chamber of Commerce and Industry 
+371 26453442
Kr.Valdemāra str. 35, Riga Latvia, LV-1010