Demand-Driven Training for youth employment programs build job-relevant skills valued by employers and useful for self-employment by offering both pre-employment skills development and some form of on-the- job training.
Consultative Group to Assist the Poor (CGAP), Financial Services Innovation (CFSI), Bankable Frontier Associates, Entrepreneurial Finance Lab (EFL Global)
Three trends in technology are revolutionizing finance and in particular our ability to include youth in the formal financial sector. They are: Mobility – or the ability to remain connected wherever we are; Ubiquity – where we all have access to high powered tools (software) and Big Data – where number crunching programs enable analysis at an unprecedented scale. Learn from representatives of leading financial inclusion programs on how they are using these three trends to lower costs, improve analytical ability, and raise funds from new areas – all to promote access to finance for youth in the US and overseas.
National Microfinance Bank-Tanzania, Women's World Banking
Who should be responsible for ensuring the financial inclusion of youth in the long term? Is it the private sector, public sector, or a combination of both? In this session, Women’s World Banking, the National Microfinance Bank in Tanzania and Xac Bank Mongolia will share their perspectives and experiences in developing robust, double bottom line youth savings and financial capability programs where banks have also collaborated closely with their governments in order to further advance the financial inclusion agenda. Come learn about their approaches, see what aspects of these models are replicable, and share your own perspectives!
Al Majmoua, Chemonics International, Making Cents International
Providing credit for youth is difficult in most contexts due to their relatively smaller amount of experience and access to markets. However, in many operating environments, additional challenges of rurality, conflict, and migration are also present, making the sustainable provision of credit and savings services more difficult still. Hear three youth-inclusive financial service providers discuss the techniques they’ve used to successfully serve youth in the challenging environments of Yemen, Lebanon and Afghanistan.
Youth everywhere face challenges as they transition into adulthood, and for youth in developing countries, these challenges can be even more intense. Access to financial services can help them smooth this transition and yet youth are often excluded from financial services, either by policy or prejudice. As youth mature and become heads of their households, they will need access to and a working knowledge of financial services to enable them to be productive members of their societies.
Evaluating progress toward adoption of affordable formal financial services matters because financial inclusion is a key ingredient in promoting household well-being and broader economic development.1 The first annual FDIP report and scorecard, published in August 2015, addressed fundamental questions regarding ways to advance inclusive finance, including 1) Do country commitments make a difference in progress toward financial inclusion? 2) To what extent do mobile and other digital technologies advance financial inclusion? and 3) What legal, policy, and regulatory approaches promote financial inclusion?
Chemonics International and Making Cents International
Expanding access to finance is a challenging endeavor. Add in conflict and the obstacles can seem insurmountable. Join Making Cents International and Chemonics International on a deep dive into two programs that are currently addressing those obstacles by focusing on mobile technologies, new opportunities for youth and women, and strong local partnerships. Arelis Gomez, Chief of Party of the USAID Colombia Rural Finance Initiative, and Omaid Deqati Rahimi, Banking Capacity Team Lead of the USAID Financial Access for Investing in the Development of Afghanistan will share their respective program’s methodologies, best practices, and lessons learned for youth inclusive financial services programming when conflict and uncertainty loom.
While no global framework or standards on youth policy exists, there is a growing international consensus on principles for youth policy-making. This working paper examines these principles, rooted in the 1998 Lisbon Declaration on Youth Policies and Programmes, and most recently re-iterated at the First Global Forum in Youth Policies held in October 2014, alongside some country examples of the principles used in implementation.
Did you know that whilst almost half of young people in sub-Saharan Africa say they save, 80% do not have a bank account? Young people aren’t a target of traditional savings groups either; a survey in 2013 found that of 103 organizations that promote savings groups in 43 countries, only 22% include youth or child-focused groups.
Banking on Change is currently one of the largest programmes working with youth savings groups (YSGs). In Phase 1 of the programme, from 2009 to 2012, the focus was on savings groups more broadly; in Phase 2 we have focused on YSGs in Egypt, Ghana, India, Kenya, Tanzania, Uganda and Zambia. Between June 2013 and December 2015 the programme established 11,725 YSGs with over 245,000 members, of whom 132,000 are under 25 and two-thirds are women.
Rural youth in developing countries make up a large and vulnerable group. Globally, three quarters of the poor live in rural areas, and about one-half of this population is young people. This young and growing population confronts a number of challenges, including poor quality of education, lack of basic infrastructure, lack of access to or control of sufficient land for farming, and, for girls in particular, more traditional cultural norms, which severely hinder their ability to build sustainable livelihoods.