Guatemala City Became the Central American Capital of Financial Education for Two Days

CYFI’s 3rd Annual Latin America and Caribbean (LAC) Regional Meeting 2014 brought together policy makers and financial service providers to discuss innovative ways to responsibly and sustainably include children and youth in the economy.

PRESS RELEASE
September-24-2014

Amsterdam, the Netherlands – This year Guatemala hosted the Third CYFI Regional meeting for the Americas and the Caribbean. Framed by the IX Regional Congress on Remittances, Microfinance and Financial Inclusion, this event took financial education and financial inclusion to the top of the regional agenda.

“We are very pleased to welcome you all to this space for exchange and learning.” Dr. Roberto Ortega Herrera, President of the Guatemalan Banking Association.

The Central American sub-region had an unprecedented participation in this event in which financial intuitions, Ministries of Finance and Education, NGO’s, foundations and leading researchers gathered to network, collaborated and shared innovations and ideas on the topics of financial inclusion, financial education as well as employability and entrepreneurship.

Undoubtedly, this event contributed to Child and Youth Finance International’s goal to develop a generation that will be able to prevent future financial crises by increasing the financial education, financial access, employability, and entrepreneurship skills of children and youth.

Increasing Sustainable Growth by Financially Including Youth

“Remittances have the potential to change the life of youth in Latin America. We have to make sure that it is for the better.” Lic. Oscar Avalle, Resident Representative, World Bank Group

During the event a great focus was put on financial inclusion as a tool to diminish social exclusion and facilitate growth in the region. Speakers recognized that there a variety of ways to increase financial inclusion and the proof of the opportunities which financial inclusion generates is too abundant to be ignored. Emphasis was given to the family structure and the need for specific policies to improve social conditions, especially for youth.

Panelists highlighted one of the problems which the sub-region is facing: often financial inclusion is increasing as an unintended consequence of rapid growth in the financial market. They highlighted the importance of encouraging structured growth that is accompanied by youth and family specific policies.

Innovation and Education: Tools for Building a Financially Inclusive Society

“Innovations have changed the way we think about finances, now they have to change the way we do finances” Lic. Gabriela Zapata, Consultant, MetLife Foundation.

Financial institutions and government institutions were the sectors primarily represented in this event. Participants were pleased to hear from both sides a pledge for greater contribution and coordination amongst all sectors involved in increasing Economic Citizenship Education. Panelist emphasized the importance of using innovative channels to increase financial inclusion while providing financial education to the young population.

Participants acknowledged that the road to providing financial services and products to children and youth is still long and bumpy, even with the increase in technology. However, they enthusiastically welcomed the idea of SchoolBank, and there was great interest shown in the development of pilot projects in the region.

Participants highlighted the importance of tailoring SchoolBank projects to specific national and community contexts.

SchoolBank focuses on the creation of low cost, secure and scalable banking products for children and young people between 6 and 25 years of age. The project seeks to combine the use of state-of-the-art banking technologies and innovative distribution channels beyond the conventional distribution networks of financial products and services.

Global Money Week 2015

“Global Money Week is a great opportunity to show the world what is being done in Guatemala for the financial education of children and youth, and also to learn how we can do better.” Lic. Antonieta Gutierrez, Executive Director, Central Bank of Guatemala.

The event served as a platform to launch Global Money Week 2015 in the Americas and the Caribbean. Participants were excited to hear from different institutions about their participation in past editions of this initiative.

The Central Bank of Guatemala and the Superintendence of Banks of Guatemala invited all present institutions to join their efforts in 2015 and to reflect deeply on the theme of GMW 2015: Save today. Safe tomorrow. and the importance of savings for ensuring Guatemala’s sustainable growth.

Changing Policy at a National Level

Prior to the Regional Meeting for the Americas and the Caribbean the Central Bank of Guatemala highlighted their commitment to the CYFI Movement, while hosting a National Stakeholder’s Meeting to discuss the development of financial education and financial inclusion programs in the country.

The Ministry of Education, the Superintendence for Tributary Administration and the Superintendence of Banks, joined the Central Bank of Guatemala and CYFI in this event which served as a space to exchange information about the programs that these institutions are implementing as well their outreach to children and youth.

Agreements included the utilization of CYFI’s National Mapping Tools to identify gaps in their financial regulation, existing programs on financial education, and existing financial services for children and youth in the country.

Download the Global Money Week 2015 Toolkit to find out everything that you need to know about organizing an activity in your country!


Social Media

LAC Regional Meeting Hashtags:
#IXCOREMIF | #CYFIGuatemala

Global Money Week 2015 Hashtags:
#GMW2015 | #GlobalMoneyWeek | #CYFI

Other related Hashtags:
#finlit | #entrepreneurship | #youth | #celebrate | #jointhefun


About COREMIF

The IX Congress of Remittances, Microfinance and Financial Inclusion (COREMIF) aims to promote the exchange of ideas, information and experiences in national and international financial inclusion, financial literacy, microfinance and remittances. This is to promote and raise business strategies and alliances that result in increased economic citizenship in Guatemala and the region.

Website: http://www.ebg.edu.gt/congreso/coremif-2014/
Twitter: @ABG_EBG


About Child and Youth Finance International

Child and Youth Finance International (CYFI) aims to develop a generation that will be able to prevent future financial crises by increasing the financial education, financial access, employability, and entrepreneurship skills of children and youth.

Launched in April 2012, the Child and Youth Finance Network has already expanded to 125 countries and reached more than 18 million children. Our international and regional events result in policy changes, and are the only events in the world where children contribute to setting the global agenda.

Website: www.childfinanceinternational.org
Facebook: facebook.com/ChildFinance
Twitter: twitter.com/ChildFinance


Press Contacts

For further information about any of the mentioned events and/or Child & Youth Finance International, please contact:

Caitlin Watson, Communications Coordinator
This email address is being protected from spambots. You need JavaScript enabled to view it.
+31 (0) 20 520 3900

Robin Willing, Director of Communications & Operations
This email address is being protected from spambots. You need JavaScript enabled to view it.
+31 (0) 20 520 3900

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Ciudad de Guatemala se convirtió en la capital de centroamericana de la educación financiera durante dos días

La 3ra edición de la Reunión Regional de CYFY para América Latina y el Caribe (LAC) 2014 reunió a los líderes financieros de las Américas y el caribe en Guatemala, para discutir las tendencias más recientes en inclusión y educación financiera para niños, niñas y jóvenes.

PRESS RELEASE
September-24-2014

Amsterdam, Países Bajos  Este año Guatemala fue sede de la Tercera Reunión Regional CYFI para las Américas y el Caribe. Enmarcado en la realización del IX Congreso Regional de Remesas, Microfinanzas e inclusión financiera (COREMIF), este evento sirvió para llevar la educación financiera y la inclusión financiera a las prioridades de la agenda regional. "Estamos muy contentos de darles la bienvenida a este espacio para el intercambio y el aprendizaje" Dr. Roberto Ortega Herrera, presidente de la Asociación Bancaria de Guatemala.

En esta edición el evento dio un espacio especial a la América central. La subregión tuvo una participación sin precedentes en este evento, en el que las intituciones financieras, los Ministerios de Finanzas y Educación, ONGs, fundaciones e investigadores líderes se unieron a las redes CYFI y Aflatoun, con la intención de compartir ideas sobre los temas de inclusión financiera, la educación financiera, así como la empleabilidad y el espíritu emprendedor en niños, niñas y jóvenes.

Sin lugar a dudas, este evento contribuyó a la meta de Child and Youth Finance International de desarrollar una generación capaz de prevenir futuras crisis financieras, mediante el aumento de la educación financiera, el acceso financiero, la empleabilidad y el desarrollo de competencias empresariales de los niños y jóvenes.

El aumento del crecimiento sostenible por Financieramente Incluyendo Juventud

"Las remesas tienen el potencial de cambiar la vida de los jóvenes en América Latina. Tenemos que asegurarnos de que sea para mejor ". Lic. Oscar Avalle, Representante Residente del Grupo del Banco Mundial

Durante el evento un gran foco fue puesto en la inclusión financiera como una herramienta para disminuir la exclusión social y facilitar el crecimiento de la región. Los oradores reconocieron que el incremento de la inclusión financiera puede tomar diferentes formas en la región y que las oportunidades se han mostrado abundantes. Se hizo hincapié en la estructura familiar y en la necesidad de políticas específicas para mejorar las condiciones sociales, especialmente de los jóvenes.

Los panelistas reconocieron que todavía hay un problema por abordar: la Inclusión Financiera en muchos casos ha ocurrido como una consecuencia no deseada del crecimiento del mercado financiero. Destacaron la importancia de fomentar el crecimiento estructurado que se acompañe de políticas específicas para los jóvenes y sus familias.

Innovación y Educación: Herramientas para la Construcción de una Sociedad Inclusiva

“Las innovaciones han cambiado la manera en que pensamos acerca de las finanzas, ahora tienen que cambiar la forma en la que hacemos finanzas.” Lic. Gabriela Zapata, Consultor de la Fundación MetLife.

Las instituciones financieras y las instituciones de gobierno fueron los sectores mayoritariamente representados en este evento. Los participantes se mostraron complacidos de escuchar de ambas partes, un compromiso para una mayor contribución y coordinación entre todos los sectores implicados en el aumento de la educación para ciudadanía económica en sus países. Panelistas destacaron que esto es particularmente importante cuando se habla del uso de canales innovadores para el aumento de la inclusión financiera y educación financiera a la población.

Todavía hay un largo camino por recorrer cuando se habla sobre la prestación de servicios financieros a los niños, niñas y jóvenes, y el uso de la tecnología para aumentar la inclusión financiera de este segmento de la población. Sin embargo, el público recibió con gran entusiasmo la idea de SchoolBank y mostró interés en el desarrollo de proyectos piloto en la región. Los participantes destacaron la importancia de adecuar estos proyectos a los contextos nacionales y comunitarios.

SchoolBank se centra en la creación de productos financieros de bajo costo, seguros y escalables para niños, niñas y jóvenes de entre 6 y 25 años de edad. El concepto, promovido por Child and Youth Finance Internacional (CYFI), trata de combinar el uso de tecnologías de última generación y canales de distribución innovadores más allá de las redes de distribución convencionales de productos y servicios financieros.

Global Money Week 2015

"Global Money Week esuna gran oportunidad para mostrar al mundo lo que se está llevando a cabo en Guatemala para la educación financiera de niños, niñas y jóvenes, y también para saber qué podemos hacer mejor." Lic. Antonieta Gutiérrez, Directora Administrativa, Banco Central de Guatemala

El evento sirvió como plataforma de lanzamiento de Global Money Week 2015 en las Américas y el Caribe. Los participantes se emocionaron al escuchar de diferentes instituciones guatemaltecas sobre su participación en ediciones anteriores de esta iniciativa.

El Banco Central de Guatemala y la Superintendencia de Bancos de Guatemala invitaron a todas las instituciones presentes a unirse a sus esfuerzos en el año 2015 y a reflexionar en profundidad sobre el tema de GMW 2015: Ahorra hoy. Mañana seguro, y la importancia del ahorro para el crecimiento sostenible de Guatemala.

Cambio de Política a Nivel Nacional

Previo al inicio de la Reunión Regional para las Américas y el Caribe, el Banco Central de Guatemala destacando su compromiso con el Movimiento CYFI, auspició una reuniones de actores nacionales para discutir el desarrollo de la inclusión financiera y programas de educación financiera en el país.

El Ministerio de Educación, la Superintendencia de Administración Tributaria y la Superintendencia de Bancos, acompañaron al Banco Central de Guatemala y a Child and Youth Finance Internacional en este evento, que sirvió como un espacio para el intercambio de información sobre los programas que estas instituciones están implementando y su difusión, especialmente a los niños, niñas y jóvenes guatemaltecos

Acuerdos incluyen la utilización de las herramientas de mapeo nacional de CYFI para identificar los vacíos en la regulación, los programas de educación financiera existente y los servicios financieros existentes para los niños, niñas y jóvenes en el país.


Redes sociales

Hashtags Reunión Regional para las Americas y el Caribe:
#IXCOREMIF | #CYFIGuatemala

Hashtags Global Money Week 2015:
#GMW2015 | #GlobalMoneyWeek | #CYFI

Otros hashtags relacionados:
#finlit | #entrepreneurship | #youth | #celebrate | #jointhefun


Acerca COREMIF

El IX Congreso de Remesas, Microfinanzas y Bancarización (COREMIF) tiene como objetivo promover un intercambio de ideas, información y experiencias nacionales e internacionales en temas de inclusión financiera, educación financiera, microfinanzas y remesas, con el propósito de fomentar y plantear estrategias de negocios y alianzas que redunden en el incremento de la ciudadanía económica en Guatemala y la región.

Sitio web: http://www.ebg.edu.gt/congreso/coremif-2014/
Twitter: @ABG_EBG


About Child and Youth Finance International

Child and Youth Finance International (CYFI) dirige el mayor Movimiento dedicado a mejorar el potencial financiero de niños, niñas y jóvenes. Lanzado en abril del 2012, el Movimiento se ha extendido a 100 paises y ha llegado a más de 18 millones de niños, niñas y jóvenes.

El Movimiento aprovecha la experiencia e innovaciones de su red de organizaciones a nivel global. Entre sus socios y colaboradores se incluyen autoridades reguladoras del sistema financiero y algunas de las instituciones financieras mundiales más importantes., ONGs internacionales, organizaciones multilaterales y bilaterales, fundaciones, académicos de renombre y, sobretodo, niños, niñas y jóvenes.

El Movimiento tiene un objetivo central: incrementar la ciudadanía económica de niños, niñas y jóvenes. Esto es, poner a disposición de niños, niñas y jóvenes entre 8 y 18 años el conocimiento necesario para tomar decisiones financieras acertadas, darles oportunidades de acumular ahorros y enseñarles las aptitudes para encontrar trabajo, obtener medios de vidas sosteniblesy por último romper el ciclo de pobreza.

Sitio web: www.childfinanceinternational.org
Facebook: facebook.com/ChildFinance
Twitter: twitter.com/ChildFinance


Contactos para la prensa

Para más información sobre cualquiera de los eventos mencionados y / o Child & Youth Finance International, por favor póngase en contacto con:

Caitlin Watson, Coordinadora de Comunicaciones
This email address is being protected from spambots. You need JavaScript enabled to view it.
+31 (0) 20 520 3900

Robin Willing, Director de Comunicaciones y Operaciones
This email address is being protected from spambots. You need JavaScript enabled to view it.
+31 (0) 20 520 3900

Rate this blog entry:
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Financial Inclusion and Financial Education for Children and Youth Takes the Stage in Guatemala

CYFI’s 3rd Annual Latin America and Caribbean (LAC) Regional Meeting 2014 will bring together policy makers and financial service providers to discuss innovative ways to responsibly and sustainably include children and youth in the economy.

PRESS RELEASE
September-09-2014

Amsterdam, the Netherlands CYFI’s 3rd Annual Latin America and Caribbean (LAC) Regional Meeting 2014 will be held in Guatemala City, Guatemala on September 18 – 19, 2014. The meeting is co-organized by CYFI, the Banking Association of Guatemala, and Aflatoun and hosted by the Banking Association of Guatemala during the IX edition of COREMIF.

This event will be inaugurated by the President of the Guatemalan Banking Association, Dr. Roberto Ortega Herrera, the Superintendent of Banks, Dr. Ramón Tobar Morales, and the President of the Central Bank of Guatemala, Dr. Edgar Barquín Durán, who will be sharing key insights on financial inclusion and financial education from a regional perspective.

Participants from a wide range of sectors such as financial institutions, Ministries of Finance and Education, NGO’s, foundations as well as leading researchers will gather in Guatemala City, Guatemala to network, collaborate and share innovations and opinions on the topics of financial inclusion, financial education as well as employability and entrepreneurship skills.

Financial Education as a Foundation to Financial Inclusion

With topics such as “Tech tools to improve financial inclusion”, “Financial education as a foundation to financial inclusion” and “Setting the stage for sustainable livelihoods of children and youth” the meeting will focus on the innovative ways in which financial service providers in the region can increase sustainable economic growth by increasing youth financial inclusion, financial education and livelihood education.

All members of the CYFI Network in this region are welcome to attend the meeting, which will be held in Spanish. For more information please visit www.lacspa.childfinanceinternational.org or contact Sofia Ortega Tineo, CYFI’s LAC Regional Advisor at This email address is being protected from spambots. You need JavaScript enabled to view it..


New and Improved Toolkit Released for Global Money Week 2015!

Global Money Week is a time when children and youth learn the importance of savings, responsible spending and entrepreneurial skills. Taking place between 9th-17th March, 2015, Global Money Week (GMW) is a worldwide celebration which empowers the young generation to be confident, responsible and skilled economic citizens. Last year over 3 million children and youth from 118 countries participated in over 2000 financial education, livelihoods education, and financial inclusion activities held by 490 organizations!

Global Money Week takes place every year during the second week of March and creates awareness on the importance of being financially capable and educated from a young age. Coordinated by Child and Youth Finance International (CYFI) the activities themselves are organized by schools, universities, government ministries, central banks, financial institutions, members of the civil society and communities of active youth worldwide.

Download the Global Money Week 2015 Toolkit to find out everything that you need to know about organizing an activity in your country!


Social Media

LAC Regional Meeting Hashtags:
#IXCOREMIF | #CYFIGuatemala

Global Money Week 2015 Hashtags:
#GMW2015 | #GlobalMoneyWeek | #CYFI

Other related Hashtags:
#finlit |#entrepreneurship |#youth| #celebrate |#jointhefun


About COREMIF

The IX Congress of Remittances, Microfinance and Financial Inclusion (COREMIF) aims to promote the exchange of ideas, information and experiences in national and international financial inclusion, financial literacy, microfinance and remittances. This is to promote and raise business strategies and alliances that result in increased economic citizenship in Guatemala and the region.

Website: www.ebg.edu.gt/congreso/coremif-2014/


About Child and Youth Finance International

Child and Youth Finance International (CYFI) aims to develop a generation that will be able to prevent future financial crises by increasing the financial education, financial access, employability, and entrepreneurship skills of children and youth.

Launched in April 2012, the Child and Youth Finance Network has already expanded to 125 countries and reached more than 18 million children. Our international and regional events result in policy changes, and are the only events in the world where children contribute to setting the global agenda.

Website: www.childfinanceinternational.org
Facebook: facebook.com/ChildFinance
Twitter: twitter.com/ChildFinance


Press Contacts

For further information about any of the mentioned events and/or Child & Youth Finance International, please contact:

Caitlin Watson, Communications Coordinator
This email address is being protected from spambots. You need JavaScript enabled to view it.
+31 (0)20 520 3900

Robin Willing, Director of Communications & Operations
This email address is being protected from spambots. You need JavaScript enabled to view it.
+31 (0)20 520 3900


La Educación Financiera Para Niños y Niñas se da Cita en Guatemala

La 3ra edición de la Reunión Regional de CYFY para América Latina y el Caribe (LAC) 2014 reunirá a los líderes financieros de las Américas y el caribe en Guatemala, para discutir las tendencias más recientes en inclusión y educación financiera para niños, niñas y jóvenes.

COMUNICADO DE PRENSA
Septiembre-08-2014

Amsterdam, Países Bajos – La 3ra edición de la Reunión Regional de CYFY para América Latina y el Caribe (LAC) 2014 se llevará a cabo en la Ciudad de Guatemala, Guatemala, del 18 al 19 de septiembre del presente año. El encuentro está organizado conjuntamente por CYFI, la Asociación Bancaria de Guatemala, y Aflatoun y enmarcada en el IX Congreso Regional de Remesas, Microfinanzas e Inclusión Financiera (COREMIF).

El evento será inaugurado por el Presidente de la Asociación Bancaria de Guatemala, Lic. Roberto Ortega Herrera, el Superintendente de Bancos, Lic. Ramón Tobar Morales y el Presidente de la Junta Monetaria y del Banco de Guatemala, Lic. Edgar Barquín Durán, quienes estarán compartiendo con el público asistentes sus impresiones en cuanto a la inclusión e inclusión financiera desde una perspectiva regional.

Los participantes de una amplia gama de sectores se darán cita en este evento. Intuiciones financieras, Ministerios de Finanzas y Educación, ONGs, fundaciones, así como los principales investigadores de la red CYFI se reunirán en la Ciudad de Guatemala, Guatemala con el fin de colaborar y compartir innovaciones y opiniones sobre los temas de inclusión financiera, educación financiera, empleabilidad y emprendimiento.

La Educación Financiera Como Base Para la Inclusión Financiera

Con temas como "herramientas tecnológicas para mejorar la inclusión financiera", "La educación financiera como base para la inclusión financiera" y " Creación de medios de vida, empleabilidad e inclusión financiera para jóvenes.", la reunión se centrará en las innovaciones que los proveedores de servicios financieros en la región han implementado para aumentar el crecimiento económico en la región a través de; incremento de la inclusión y la educación financiera de niños, niñas y jóvenes.

Todos los miembros de la red CYFI en las Américas y el Caribe están invitados a asistir a la reunión.

Para obtener más información, puede visitar nuestra página web www.lacspa.childfinanceinternational.org o puede ponerse en contacto con Sofía Ortega Tineo, Asesor Regional para las Américas y el Caribe de CYFI a través de la dirección de correo electrónico This email address is being protected from spambots. You need JavaScript enabled to view it..


¡La nueva y mejorada Guía de trabajo: Global Money Week 2015!

Global Money Week es un momento en el que niños, niñas y los jóvenes aprenden la importancia del ahorro, el gasto responsable y las habilidades empresariales. Global Money Week tendrá lugar del 9 al 17 de marzo de 2015. Global Money week es una celebración mundial que busca incrementar las capacidades financieras a niños, niñas y jóvenes. ¡En 2014 más de 3 millones de niños, niñas y jóvenes de 118 países participaron en más 2000 actividades de educación financiera de la mano de 490 organizaciones!

Global Money Week busca crear conciencia sobre la importancia de ser financieramente capaz desde una edad temprana. Coordinado por Child and Youth Finance Internacional (CYFI), las actividades son organizadas por las escuelas, universidades, ministerios, bancos centrales, instituciones financieras, organizaciones de la sociedad civil y las comunidades de la juventud activa en todo el mundo.

¡Descarga el Guía de trabajo: Global Money Week 2015 para enterarte de todo lo que necesitas saber acerca de la organización de una actividad en tu país!


Redes sociales

Hashtags Reunión Regional para las Americas y el Caribe:
#IXCOREMIF | #CYFIGuatemala

Hashtags Global Money Week 2015:
# GMW2015 | #GlobalMoneyWeek | #CYFI

Otros hashtags relacionados:
#finlit | #entrepreneurship | #youth | #celebrate | #jointhefun


Acerca COREMIF

El IX Congreso de Remesas, Microfinanzas y Bancarización (COREMIF) tiene como objetivo promover un intercambio de ideas, información y experiencias nacionales e internacionales en temas de inclusión financiera, educación financiera, microfinanzas y remesas, con el propósito de fomentar y plantear estrategias de negocios y alianzas que redunden en el incremento de la ciudadanía económica en Guatemala y la región.

Sitio web: www.ebg.edu.gt/congreso/coremif-2014/
Twitter: @ABG_EBG


About Child and Youth Finance International

Child and Youth Finance International (CYFI) dirige el mayor Movimiento dedicado a mejorar el potencial financiero de niños, niñas y jóvenes. Lanzado en abril del 2012, el Movimiento se ha extendido a 100 paises y ha llegado a más de 18 millones de niños, niñas y jóvenes.

El Movimiento aprovecha la experiencia e innovaciones de su red de organizaciones a nivel global. Entre sus socios y colaboradores se incluyen autoridades reguladoras del sistema financiero y algunas de las instituciones financieras mundiales más importantes., ONGs internacionales, organizaciones multilaterales y bilaterales, fundaciones, académicos de renombre y, sobretodo, niños, niñas y jóvenes.

El Movimiento tiene un objetivo central: incrementar la ciudadanía económica de niños, niñas y jóvenes. Esto es, poner a disposición de niños, niñas y jóvenes entre 8 y 18 años el conocimiento necesario para tomar decisiones financieras acertadas, darles oportunidades de acumular ahorros y enseñarles las aptitudes para encontrar trabajo, obtener medios de vidas sosteniblesy por último romper el ciclo de pobreza.

Sitio web: www.childfinanceinternational.org
Facebook: facebook.com/ChildFinance
Twitter: twitter.com/ChildFinance


Contactos para la prensa

Para más información sobre cualquiera de los eventos mencionados y / o Child & Youth Finance International, por favor póngase en contacto con:

Caitlin Watson, Coordinadora de Comunicaciones
This email address is being protected from spambots. You need JavaScript enabled to view it.
+31 (0) 20 520 3900

Robin Willing, Director de Comunicaciones y Operaciones
This email address is being protected from spambots. You need JavaScript enabled to view it.
+31 (0) 20 520 3900

Rate this blog entry:
10400 Hits
0 Comments

Let Youth be a part of their solution - Entrepreneurship for Youth Unemployment

Let Youth be a part of their solution - Entrepreneurship for Youth Unemployment

 

It has been referred to as a global crisis. The International Labor Organization is calling it 'A Generation at Risk', and there has been talk about a second 'Lost Generation'. (An expression made popular by Ernest Hemingwayabout the first young people growing up following the World War I).

  • In 2012 75 million of the world's youth were unemployed, which is the highest youth unemployment rate on record.
  • In 2013 it is estimated that the number will stay at this alarmingly high level, with 73 million youth unemployed.
  • With these numbers it means that youth currently make up 40% of the worlds unemployed.
  • And as a young person your risk of being unemployed is three times higher than that of an adult.

And it is not only affecting the young people themselves - but also the society and community they live in. As the population grows younger and more young people are unemployed the burden on the tax payers of the country and community they are living in also increases. But, the core of the matter is that young people are now standing at risk from being left out of the job market. And with this being left with feelings of inadequacy, stress and alienation.

However, governments and experts alone cannot solve the problem of youth unemployment. We also need to include the persons who are facing the problem themselves - youth. Not only can they be a part of the solution, they will also likely come up with new and innovative ideas to solve the problem. There is a need for wide spread policy changes and global initiatives to tackle this problem.

The Child and Youth Finance Movement is trying to be a part of this and contribute to a long-term and positive solution. Through the extensive global network that make of the Child and Youth Finance Movement we want to promote solutions to the high youth unemployment rate and create new ways for youth to get employed - via entrepreneurship. We want to start sparking youth entrepreneurial spirits and empower them to be confident young adults that believe in their own abilities and are able to utilize these to create their own job opportunities.

The World Bank Group Youth Entrepreneurship Summit

In connection to this initiative CYFI is proud to be taking part of the World Bank Group (WBG) first Youth Summit on October 23rd, 2013 in Washington DC. The theme for the event is "Youth Entrepreneurship: Cultivating an innovative spirit to alleviate global youth unemployment". The summit featured notable panelists of the development community, and provided a forum for young people from around the globe to share innovative ideas and solutions to current development challenges to create opportunities for youth employment and job creation. In order to help youth become a part of their own solution we need to empower and inspire them to believe in themselves, even though times are difficult, and see the opportunities of the situation they are in. One way is through entrepreneurship.

Coming up with new innovative solutions to the problems they are facing, and generate their own business opportunities and work opportunities, can potentially be a great way for youth to be a part of creating employment. During the World Bank Group Summit the need for education and empowerment of youth to get the basic skills to manage their own business as well as believe in themselves and their skills could not be over emphasized.

We also strongly believe in the connection between education and inclusion and the need for empowerment and confidence to fuel both into successful outcomes for youth. The youth involvement of this Summit is also one of the core pillars of the Movement. We always want to keep the young people we are here to help involved. We want to hear what they have to say and what their opinion and thoughts are on solutions to the problems they are facing.

Listening to the Voice of Youth

Another part of the youth involvement in the Movement is the CYFI Global Youth Survey, where we ask youth all over the world for their opinions on three topics: My Education, My Money and My Future. The survey is based on the financial issues raised by the children and youth who attended our Youth Summit in May in Istanbul. The survey results are still in the process of being completed, and so far the results of the Africa region have been done. Despite alarmingly high rates of unemployment, 66.7% of the African youth taking part in the survey expressed interest in having their own business.

This high percentage alone represents the potential and desire children and youth have to improve their futures by creating their own work opportunities. The Child and Youth Finance Movement is ready to support this desire and make youth a part of their own solution through increasing the financial education, financial access, employability and entrepreneurship skills of children and youth.

After all, they are tomorrow's leaders, entrepreneurs and economic actors.

 

Right now CYFI is participating in the Skoll Social Entrepreneur Fundraising Challenge, and we need your support to advance in the challenge. Every contribution matters!

 

ur Facebook and Twitter to stay updated about the progress of the Movement.

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Financial Football Brought Policymakers and Youth together in Bogotá

Financial Football Brought Policymakers and Youth together in Bogotá

BOGOTÁ, COLOMBIAFinancial Football was one of the items on the agenda as the first day of the Fourth Latin American Congress of Financial Education by FELABAN /Second CYFI Regional Meeting for the Americas and the Caribbean took off. Leaders and policymakers from a variety of sectors got together to share innovations, ideas and collaborate on financial education and inclusion for children and youth. Some of the topics discussed where how to promote responsible consumption and sustainability for the next generation.

It was with an electric atmosphere that the first day of the Fourth Latin American Congress of Financial Education by FELABAN and Second CYFI Regional Meeting for the Americas and the Caribbean came to an end. Participants from a wide arrange of sectors in the region, such as financial institutions, Ministries of Finance and Education, NGO’s, foundations as well as leading researchers got together in Bogotá, Colombia. Topics discussed during the day included Responsible Consumption and Sustainability, Behavioral Economics, the Landscape of Financial Education and the role Mass Media can play in this as well as experiences on Financial Education. The participants had gathered to network, collaborate and share innovations and opinions on the topics of financial education.

One of the most memorable sessions of the first day was the “Financial Football”; a game of questions between two countries, played in the atmosphere of a football game. Two teams squared off: Columbia (the host country) and Chile (who not coincidentally will be facing off again Columbia today for a World Cup qualifying match). After a succession of questions; “What is the role of the World Bank?” and “What is the difference between fixed and variable interest rates?” Chile was poised for a shot. After a quick response Chile’s shot was on target but a correct response to another difficult question about derivatives by the Columbian Goalkeeper kept the ball out of the net.

The Columbians started the second half with the ball and, after a series of correct answers were in the Chilean box. An excellent shot based on currency fluctuations was on goal, and while the shot appeared to be blocked by the Chilean goalkeeper, a controversial goal was nonetheless awarded. The game ended with a 1-0 Columbia win. There was much good natured taunting and ribbing by the winning team and the teams left to Plenary room together in smiles. It was a fantastic match.

The meeting serves as a true milestone for youth financial inclusion and economic citizenship in the region of the Americas and Caribbean.  With the collaboration between FELABAN, ASOBANCARIA and CYFI, this unique meeting is 2013’s biggest event dedicated to youth financial education in the region. The meeting gives children and youth the opportunity to express their own opinions and needs to the attending high level policy makers and leaders.  

About the FELABAN Latin American Congress on Financial Education

The Latin American Congress of Financial Education is an initiative of the Latin American Banking Federation (FELABAN), which in 2013 has the support of the Association of Banks of Colombia (ASOBANCARIA). In 2013 FELABAN, ASOBANCARIA and Child and Youth Finance International decided to join efforts to host a joint event which represents the largest regional gathering of its kind. The objective of the CLEF 2013 is to allow stakeholders to share knowledge on public-and private partnerships and multilateral organizations approach financial education and the challenges posed by technological innovations in financial products and services to deepen financial penetration and reduce informality. 

 

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