Child & Youth Finance International (CYFI) aims to increase financial inclusion, financial literacy, and entrepreneurship among young people throughout Asia and the Pacific.
The celebration of Global Money Week in the Asia and the Pacific region has continuously grown in strides. Not only did the number of children reached during the week increase this year, but also more countries have joined the celebrations. This year was the first time that GMW was celebrated in East Timor and the Solomon Islands. This has brought GMW2016 to be celebrated in 25 countries, where 18 countries have national authorities leading and participating in the celebrations!
Thus far, there are two SchoolBank programs being implemented in India. One had a successful pilot involving 500 children with CYFI, Kudumbashree, NABARD and Rajagiri Outreach, aimed to promote better money management skills, improved awareness of their economic and social rights, and opening their own savings account. The State Government of Kerala is now also in the process of scaling the project to a state-level program. In the process, additional pilots are being set-up, with at least 10 launching within Kerala in 2016!
Additionally, another program is pioneered by CYFI together with the Indian Banks’ Association that coordinates with Meljol, Ministry of Finance, and the National Centre for Financial education to spearhead the SchoolBank Champs (SBC) program to deliver financial education and open savings account for children from rural and peri-urban areas in India. The SBC program aims to reach national scale. The SBC program has 53,306 schools registered to participate in the program.
The Ye! Community has been active and pursuing projects within Asia and the Pacific, and has established partnerships with the Asian Venture Philanthropy Network (AVPN), Bizjapan, and Commonwealth Asia Alliance of Young Entrepreneurs (CAAYE), and the Young Entrepreneurs Society of the Philippines (YESPh). A Startup Summit was organized in the Philippines in 2015 together with YESPh bringing together more than 500 young entrepreneurs in the country, and with the winners of the video competition flown to Amsterdam to participate in the Ye! Boost Camp. In 2016, the same Startup Summit and Video Competition will be launched in the Philippines this year, as well as a Startup Event in India.
Visit the country pages, listed below to learn more about national initiatives and the tremendous work of the Movement's partners and stakeholders throughout Asia and the Pacific.