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Youth Financial Services: Changing the mindset

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With an estimated 1.2 billion young people between the ages of 15 and 24, the vast majority of them living in developing countries, youth are both a policy and political priority for many countries around the world.

An increasing number of governments are turning to youth financial services. Access to financial services—savings, payments, credit and insurance—can help young people to build assets, protect themselves against risk, and it can unlock economic potential. Yet, the World Bank’s Global Financial Inclusion Database (Findex shows that youth are 33 percent less likely to own a bank account than an adult.

Last week we asked you for questions to put to policy makers gathered at a CGAP event in Paris to discuss what can be done to improve opportunities for youth through financial services. This video shows policy makers’ responding to the question: “Why youth financial services?”