FULL LIST OF FINANCIAL INCLUSION

Globally, Young people access financial services at roughly half the rate of adults.  According to the World Bank’s Global Findex database, youth are 40% less likely to save at banks and 60% less likely to have borrowed.[1]  Without these services, young people have fewer means to manage their assets, invest in education, or grow businesses.  In response, youth inclusive financial services programs are working with regulators, financial services providers, and informal savings group promoters to increase young people’s access to appropriate savings, credit, payment, and insurance products.  At the same time, recognizing that youth often lack the knowledge or experience to use services effectively, programs are offering financial education and life-skills training and information to boost financial capability. 

Over the past three years there has been a growing awareness of the importance and viability of finance for youth among service providers.  However, overall access has not changed significantly, with the proportion of youth savings and borrowing formally barely changing.  In response, youth-inclusive practitioners are looking more closely at the potential of new technologies to boost access and capability - at digital payments and mobile wallets to lower the costs of providing services, “big data” to help banks understand the youth market and reduce the risk of lending, and smart phones to offer new convenient and inexpensive means to teach financial education to youth.  At the same time, there is renewed interest in old technologies such as savings groups to expand access to youth.  Through these new and old technologies, practitioners are working to boost financial inclusion significantly among youth.

 

PRESENTATION: Unlocking the Power of Finance for Youth – An Introductory Training on Youth-Inclusive Financial Services Design and Delivery, Sep 2016

Making Cents International

Youth-inclusive Finance expert Timothy Nourse will lead this primer on financial services for youth – why they are important, who should be involved, what are the key financial and non-financial services, and how they can be designed.  Summit participants who want to learn the basics of youth-inclusive finance and how to engage with financial service providers or youth serving organizations are encouraged to attend this interactive training.

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Presentation

REPORT: Findings from Five Youth-Inclusive Rural Finance Pilot Projects, IFAD Rural Youth Economic Empowerment Program (RYEEP) 2013-2016

Making Cents International

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. In addition, accessing the financial services they need to support economic opportunities is more challenging than in urban areas, due to physical distances, the lack of financial products appropriate to rural youth circumstances, limited knowledge and experience with financial services, and poor protection measures. These challenges feed perceptions from rural youth that financial services are not accessible to them, and from providers that rural youth are not bankable.

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Report

REPORT: Youth Savings Groups in Egypt - Learning Report 1, Oct 2016

Making Cents International

With funding from the International Fund for Agricultural Development (IFAD) and in partnership with Silatech, Making Cents International implemented the IFAD Rural Youth Economic Empowerment Program (RYEEP), a three-year grant seeking to increase employment and self-employment of young people aged 15-35 in the Near East and North Africa (NENA) countries of Egypt, Yemen, Morocco and Tunisia. The program provided capacity-building and technical assistance to local institutions to pilot models delivering youth-inclusive financial services (YFS) and non-financial services to rural youth and to the enterprises that employ them. By the program's end, RYEEP pilot projects delivered savings or credit services to 20,543 rural youth and non-financial services to 14,252 rural youth.

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Report

From Good Practice to Policy Innovation: Moving the Needle on Youth Financial Capability, Sep 2016

Save the Children, New America Foundation

Financial inclusion and youth development practitioners are constantly challenged to scale the lessons from their work through policy change. This often involves an interplay between local, regional and national government, and is not necessarily straightforward or unidirectional. This session will explore how youth financial inclusion/education initiatives in Vietnam, India, and the US used project results to effect policy change at various levels of government. The session is designed to provide practitioners with a better understanding of how to translate project learnings into effective advocacy through an understanding of the often complex, opportunistic, and multilayered nature of the policy change process.

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Presentation

PRESENTATION:Digital Finance: Unlocking New Trends in Technology to Include Youth, Sep 2016

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.

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Presentation

PRESENTATION: Sustainable Youth Financial Inclusion: Whose Responsibility Is It? Sep 2016

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!

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PRESENTATION: Credit for Youth = Hard; Credit for Youth in Conflict or Remote Areas = (Im)possible? Sep 2016

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.

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Presentation

Guide: Gateway Guide to Youth Financial Inclusion, Oct 2016

Microfinance Gateway

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.

REPORT: The 2016 Brookings Financial and Digital Inclusion Project Report, August 2016

Center for Technology Innovation at Brookings

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? 

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Report

WEBINAR RESOURCES: Youth Inclusive Finance in Times of Conflict: Lessons from Afghanistan & Colombia

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. 

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E-Resource

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