Photo: Farida Parveen is a successful entrepreneur in Manikgong district, she was destitute until taking a loan to start a small poultry farm. © 2011 CGAP contest.
Youth are particularly vulnerable to economic problems. They often don’t have access to financial services due to lack of education and employment. Governments are aware of this and are working to find solutions.
Recently, Egypt launched a financial inclusion initiative that helps develop financial products specifically designed for the needs of children and youth. In the Philippines, the government has made it easy for youth as young as seven years old to open savings accounts. In Brazil, the government has invested to make sure youth have the financial education they need to make smart financial decisions. Zambia has put together a program on credit for entrepreneurship with the aim to promote business activities among youth. These are just a few examples of how governments around the world are putting financial services high on their policy agenda.
The world’s population of young people between the ages of 15 and 24 is estimated at 1.3 billion, with the vast majority living in poor countries. It’s important to help these youth access financial services so they can transition smoothly into adulthood.
On March 26 and 27, representatives from different government departments of nine countries will meet for a roundtable at the World Bank office in Paris to discuss how to make it easier for youth to access financial services.
Send us your questions and thoughts on what you want to know about the role of finance in helping youth fulfill their potential – in school, at work, and within your households.
Fill out the comment section below with your ideas and questions. We will ask the policy makers your questions at the event and post video responses on this website afterwards.
In the meantime, learn more about youth financial services check out these resources: